Operating Expenses Sales Cost of Company Revenue Goods Sold Gross Profit Net Income Lennon $18,000 $8,000 $3,500 $4,500 (a) $11,000 Harrison 20,000 (b) 6,000 3,000 McCartney 13,000 9,000 4,000 (c) 1,500 Starr 16,000 6,000 10,000 6,500 (d)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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For each company, calculate the missing amount.

Operating
Expenses
Sales
Cost of
Company
Revenue
Goods Sold
Gross Profit
Net Income
Lennon
$18,000
$8,000
$3,500
$4,500
(a)
$11,000
Harrison
20,000
(b)
6,000
3,000
McCartney
13,000
9,000
4,000
(c)
1,500
Starr
16,000
6,000
10,000
6,500
(d)
Transcribed Image Text:Operating Expenses Sales Cost of Company Revenue Goods Sold Gross Profit Net Income Lennon $18,000 $8,000 $3,500 $4,500 (a) $11,000 Harrison 20,000 (b) 6,000 3,000 McCartney 13,000 9,000 4,000 (c) 1,500 Starr 16,000 6,000 10,000 6,500 (d)
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