Brief Exercise 6-4 Calculate amounts related to the multiple-step income statement (LO6-2)For each company, calculate the missing amount.SalesRevenueCost of GoodsSoldGrossProfitOperatingExpensesCompanyNet IncomeLennon$14,400$46,2002,600$3,600Harrison14,6009,2004,2001,200McCartney9,4007,2002,200600Starr12,4004,2008,2005,600< Prev20 of 21Next >search

Gross profit = Sales revenue - Cost of goods sold Cost of goods sold = Sales revenue - Gross profit…

For each company, calculate the missing amount. Sales Cost of Goods Sold Gross Profit Operating Expenses 2,600 $ Company Net Income Revenue Lennon $. 14,400 6,200 $ 3,600 Harrison 14,600 9,200 4,200 1,200 McCartney Starr 9,400 7,200 2,200 600 12,400 4,200 8,200 5,600

For each company, calculate the missing amount. Sales Cost of Goods Sold Gross Profit Operating Expenses 2,600 $ Company Net Income Revenue Lennon $. 14,400 6,200 $ 3,600 Harrison 14,600 9,200 4,200 1,200 McCartney Starr 9,400 7,200 2,200 600 12,400 4,200 8,200 5,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Brief Exercise 6-4 Calculate amounts related to the multiple-step income statement (LO6-2)
For each company, calculate the missing amount.
Sales
Revenue
Cost of Goods
Sold
Gross
Profit
Operating
Expenses
Company
Net Income
Lennon
$
14,400
$4
6,200
2,600
$
3,600
Harrison
14,600
9,200
4,200
1,200
McCartney
9,400
7,200
2,200
600
Starr
12,400
4,200
8,200
5,600
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