Cost of goods sold: It refers to all the costs that a business incurs to produce a product. It is computed by using the formula - C O G S = B e g i n n i n g I n v e n t o r y + N e t P u r c h a s e s - E n d i n g I n v e n t o r y Revenues (sales): It refers to the income generated by the business from its main operating activities. Gross Profit: It is derived by deducting the cost of goods sold from its revenues. It depicts the margin that a business is earning from its operating activities. To Compute: The revenues, expenses and income of the given income statement.

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Answer 1

Question

Chapter 5, Problem 1E

To determine

Concept Introduction:

Cost of goods sold: It refers to all the costs that a business incurs to produce a product. It is computed by using the formula -

$C O G S = B e g i n n i n g I n v e n t o r y + N e t P u r c h a s e s - E n d i n g I n v e n t o r y$

Revenues (sales): It refers to the income generated by the business from its main operating activities.

Gross Profit: It is derived by deducting the cost of goods sold from its revenues. It depicts the margin that a business is earning from its operating activities.

To Compute: The revenues, expenses and income of the given income statement.

Expert Solution & Answer

Explanation of Solution

a.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 34, 050 = $ 8, 000 + $ 38, 000 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 46, 000 - $ 34, 050 \\ E n d i n g i n v e n t o r y = $ 11, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 62, 000 - $ 34, 050 \\ = $ 27, 950 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 27, 950 - $ 10, 000 \\ = $ 17, 950 \end{array}$

b.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 16, 000 = $ 17, 050 + P u r c h a s e s - $ 3, 000 \\ P u r c h a s e s = $ 19, 000 - $ 17, 050 \\ P u r c h a s e s = $ 1, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 43, 500 - $ 16, 000 \\ = $ 27, 500 \end{array}$

c.

$\begin{array}{l} C O G S = S a l e s - G r o s s \Pr o f i t \\ = 46, 000 - $ 3, 750 \\ = $ 42, 250 \\ C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 42, 250 = $ 7, 500 + P u r c h a s e s - $ 9, 000 \\ P u r c h a s e s = $ 42, 250 - $ 7, 500 + $ 9, 000 \\ = $ 43, 750 \end{array}$

d.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ = $ 8, 000 + $ 32, 000 - $ 6, 600 \\ = $ 33, 400 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ S a l e s = G r o s s \Pr o f i t + S a l e s \\ = $ 45, 600 + $ 33, 400 \\ = $ 80, 000 \end{array}$

e.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 7, 000 = $ 4, 560 + $ 6, 600 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 11, 160 - $ 7, 000 \\ E n d i n g i n v e n t o r y = $ 4, 160 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 25, 600 - $ 7, 000 \\ = $ 18, 600 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 18, 600 - $ 6, 000 \\ = $ 12, 600 \end{array}$

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We are all strategists. That is, we set goals, navigate threats, and tap opportunities. We leverage our resources and implement decisions and actions to reach our goals. Sometimes we succeed and sometimes we fail. (Adapted from Figure 1.1, Grant, 2022, p. 7) Please share an experience in which you played the strategist. What was your goal? Did the goal fit (or not fit) with the realities of the external environment and your resources? What implementation decisions and efforts did you make? Was your strategy successful or not? Why? Did strategy execution (i.e., implementation, monitoring, and control) play a key role in your strategy’s success or failure?

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Answer 2

Question

Chapter 5, Problem 1E

To determine

Concept Introduction:

Cost of goods sold: It refers to all the costs that a business incurs to produce a product. It is computed by using the formula -

$C O G S = B e g i n n i n g I n v e n t o r y + N e t P u r c h a s e s - E n d i n g I n v e n t o r y$

Revenues (sales): It refers to the income generated by the business from its main operating activities.

Gross Profit: It is derived by deducting the cost of goods sold from its revenues. It depicts the margin that a business is earning from its operating activities.

To Compute: The revenues, expenses and income of the given income statement.

Expert Solution & Answer

Explanation of Solution

a.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 34, 050 = $ 8, 000 + $ 38, 000 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 46, 000 - $ 34, 050 \\ E n d i n g i n v e n t o r y = $ 11, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 62, 000 - $ 34, 050 \\ = $ 27, 950 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 27, 950 - $ 10, 000 \\ = $ 17, 950 \end{array}$

b.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 16, 000 = $ 17, 050 + P u r c h a s e s - $ 3, 000 \\ P u r c h a s e s = $ 19, 000 - $ 17, 050 \\ P u r c h a s e s = $ 1, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 43, 500 - $ 16, 000 \\ = $ 27, 500 \end{array}$

c.

$\begin{array}{l} C O G S = S a l e s - G r o s s \Pr o f i t \\ = 46, 000 - $ 3, 750 \\ = $ 42, 250 \\ C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 42, 250 = $ 7, 500 + P u r c h a s e s - $ 9, 000 \\ P u r c h a s e s = $ 42, 250 - $ 7, 500 + $ 9, 000 \\ = $ 43, 750 \end{array}$

d.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ = $ 8, 000 + $ 32, 000 - $ 6, 600 \\ = $ 33, 400 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ S a l e s = G r o s s \Pr o f i t + S a l e s \\ = $ 45, 600 + $ 33, 400 \\ = $ 80, 000 \end{array}$

e.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 7, 000 = $ 4, 560 + $ 6, 600 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 11, 160 - $ 7, 000 \\ E n d i n g i n v e n t o r y = $ 4, 160 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 25, 600 - $ 7, 000 \\ = $ 18, 600 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 18, 600 - $ 6, 000 \\ = $ 12, 600 \end{array}$

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Answer 3

Question

Chapter 5, Problem 1E

To determine

Concept Introduction:

Cost of goods sold: It refers to all the costs that a business incurs to produce a product. It is computed by using the formula -

$C O G S = B e g i n n i n g I n v e n t o r y + N e t P u r c h a s e s - E n d i n g I n v e n t o r y$

Revenues (sales): It refers to the income generated by the business from its main operating activities.

Gross Profit: It is derived by deducting the cost of goods sold from its revenues. It depicts the margin that a business is earning from its operating activities.

To Compute: The revenues, expenses and income of the given income statement.

Expert Solution & Answer

Explanation of Solution

a.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 34, 050 = $ 8, 000 + $ 38, 000 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 46, 000 - $ 34, 050 \\ E n d i n g i n v e n t o r y = $ 11, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 62, 000 - $ 34, 050 \\ = $ 27, 950 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 27, 950 - $ 10, 000 \\ = $ 17, 950 \end{array}$

b.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 16, 000 = $ 17, 050 + P u r c h a s e s - $ 3, 000 \\ P u r c h a s e s = $ 19, 000 - $ 17, 050 \\ P u r c h a s e s = $ 1, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 43, 500 - $ 16, 000 \\ = $ 27, 500 \end{array}$

c.

$\begin{array}{l} C O G S = S a l e s - G r o s s \Pr o f i t \\ = 46, 000 - $ 3, 750 \\ = $ 42, 250 \\ C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 42, 250 = $ 7, 500 + P u r c h a s e s - $ 9, 000 \\ P u r c h a s e s = $ 42, 250 - $ 7, 500 + $ 9, 000 \\ = $ 43, 750 \end{array}$

d.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ = $ 8, 000 + $ 32, 000 - $ 6, 600 \\ = $ 33, 400 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ S a l e s = G r o s s \Pr o f i t + S a l e s \\ = $ 45, 600 + $ 33, 400 \\ = $ 80, 000 \end{array}$

e.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 7, 000 = $ 4, 560 + $ 6, 600 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 11, 160 - $ 7, 000 \\ E n d i n g i n v e n t o r y = $ 4, 160 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 25, 600 - $ 7, 000 \\ = $ 18, 600 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 18, 600 - $ 6, 000 \\ = $ 12, 600 \end{array}$

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Answer 4

Question

Chapter 5, Problem 1E

To determine

Concept Introduction:

Cost of goods sold: It refers to all the costs that a business incurs to produce a product. It is computed by using the formula -

$C O G S = B e g i n n i n g I n v e n t o r y + N e t P u r c h a s e s - E n d i n g I n v e n t o r y$

Revenues (sales): It refers to the income generated by the business from its main operating activities.

Gross Profit: It is derived by deducting the cost of goods sold from its revenues. It depicts the margin that a business is earning from its operating activities.

To Compute: The revenues, expenses and income of the given income statement.

Expert Solution & Answer

Explanation of Solution

a.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 34, 050 = $ 8, 000 + $ 38, 000 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 46, 000 - $ 34, 050 \\ E n d i n g i n v e n t o r y = $ 11, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 62, 000 - $ 34, 050 \\ = $ 27, 950 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 27, 950 - $ 10, 000 \\ = $ 17, 950 \end{array}$

b.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 16, 000 = $ 17, 050 + P u r c h a s e s - $ 3, 000 \\ P u r c h a s e s = $ 19, 000 - $ 17, 050 \\ P u r c h a s e s = $ 1, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 43, 500 - $ 16, 000 \\ = $ 27, 500 \end{array}$

c.

$\begin{array}{l} C O G S = S a l e s - G r o s s \Pr o f i t \\ = 46, 000 - $ 3, 750 \\ = $ 42, 250 \\ C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 42, 250 = $ 7, 500 + P u r c h a s e s - $ 9, 000 \\ P u r c h a s e s = $ 42, 250 - $ 7, 500 + $ 9, 000 \\ = $ 43, 750 \end{array}$

d.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ = $ 8, 000 + $ 32, 000 - $ 6, 600 \\ = $ 33, 400 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ S a l e s = G r o s s \Pr o f i t + S a l e s \\ = $ 45, 600 + $ 33, 400 \\ = $ 80, 000 \end{array}$

e.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 7, 000 = $ 4, 560 + $ 6, 600 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 11, 160 - $ 7, 000 \\ E n d i n g i n v e n t o r y = $ 4, 160 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 25, 600 - $ 7, 000 \\ = $ 18, 600 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 18, 600 - $ 6, 000 \\ = $ 12, 600 \end{array}$

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Answer 5

Chapter 5, Problem 1E

To determine

Concept Introduction:

Cost of goods sold: It refers to all the costs that a business incurs to produce a product. It is computed by using the formula -

$C O G S = B e g i n n i n g I n v e n t o r y + N e t P u r c h a s e s - E n d i n g I n v e n t o r y$

Revenues (sales): It refers to the income generated by the business from its main operating activities.

Gross Profit: It is derived by deducting the cost of goods sold from its revenues. It depicts the margin that a business is earning from its operating activities.

To Compute: The revenues, expenses and income of the given income statement.

Expert Solution & Answer

Explanation of Solution

a.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 34, 050 = $ 8, 000 + $ 38, 000 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 46, 000 - $ 34, 050 \\ E n d i n g i n v e n t o r y = $ 11, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 62, 000 - $ 34, 050 \\ = $ 27, 950 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 27, 950 - $ 10, 000 \\ = $ 17, 950 \end{array}$

b.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 16, 000 = $ 17, 050 + P u r c h a s e s - $ 3, 000 \\ P u r c h a s e s = $ 19, 000 - $ 17, 050 \\ P u r c h a s e s = $ 1, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 43, 500 - $ 16, 000 \\ = $ 27, 500 \end{array}$

c.

$\begin{array}{l} C O G S = S a l e s - G r o s s \Pr o f i t \\ = 46, 000 - $ 3, 750 \\ = $ 42, 250 \\ C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 42, 250 = $ 7, 500 + P u r c h a s e s - $ 9, 000 \\ P u r c h a s e s = $ 42, 250 - $ 7, 500 + $ 9, 000 \\ = $ 43, 750 \end{array}$

d.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ = $ 8, 000 + $ 32, 000 - $ 6, 600 \\ = $ 33, 400 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ S a l e s = G r o s s \Pr o f i t + S a l e s \\ = $ 45, 600 + $ 33, 400 \\ = $ 80, 000 \end{array}$

e.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 7, 000 = $ 4, 560 + $ 6, 600 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 11, 160 - $ 7, 000 \\ E n d i n g i n v e n t o r y = $ 4, 160 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 25, 600 - $ 7, 000 \\ = $ 18, 600 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 18, 600 - $ 6, 000 \\ = $ 12, 600 \end{array}$

Answer 6

Chapter 5, Problem 1E

To determine

Concept Introduction:

Cost of goods sold: It refers to all the costs that a business incurs to produce a product. It is computed by using the formula -

$C O G S = B e g i n n i n g I n v e n t o r y + N e t P u r c h a s e s - E n d i n g I n v e n t o r y$

Revenues (sales): It refers to the income generated by the business from its main operating activities.

Gross Profit: It is derived by deducting the cost of goods sold from its revenues. It depicts the margin that a business is earning from its operating activities.

To Compute: The revenues, expenses and income of the given income statement.

Expert Solution & Answer

Explanation of Solution

a.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 34, 050 = $ 8, 000 + $ 38, 000 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 46, 000 - $ 34, 050 \\ E n d i n g i n v e n t o r y = $ 11, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 62, 000 - $ 34, 050 \\ = $ 27, 950 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 27, 950 - $ 10, 000 \\ = $ 17, 950 \end{array}$

b.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 16, 000 = $ 17, 050 + P u r c h a s e s - $ 3, 000 \\ P u r c h a s e s = $ 19, 000 - $ 17, 050 \\ P u r c h a s e s = $ 1, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 43, 500 - $ 16, 000 \\ = $ 27, 500 \end{array}$

c.

$\begin{array}{l} C O G S = S a l e s - G r o s s \Pr o f i t \\ = 46, 000 - $ 3, 750 \\ = $ 42, 250 \\ C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 42, 250 = $ 7, 500 + P u r c h a s e s - $ 9, 000 \\ P u r c h a s e s = $ 42, 250 - $ 7, 500 + $ 9, 000 \\ = $ 43, 750 \end{array}$

d.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ = $ 8, 000 + $ 32, 000 - $ 6, 600 \\ = $ 33, 400 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ S a l e s = G r o s s \Pr o f i t + S a l e s \\ = $ 45, 600 + $ 33, 400 \\ = $ 80, 000 \end{array}$

e.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 7, 000 = $ 4, 560 + $ 6, 600 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 11, 160 - $ 7, 000 \\ E n d i n g i n v e n t o r y = $ 4, 160 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 25, 600 - $ 7, 000 \\ = $ 18, 600 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 18, 600 - $ 6, 000 \\ = $ 12, 600 \end{array}$

Answer 7

Chapter 5, Problem 1E

To determine

Concept Introduction:

Cost of goods sold: It refers to all the costs that a business incurs to produce a product. It is computed by using the formula -

$C O G S = B e g i n n i n g I n v e n t o r y + N e t P u r c h a s e s - E n d i n g I n v e n t o r y$

Revenues (sales): It refers to the income generated by the business from its main operating activities.

Gross Profit: It is derived by deducting the cost of goods sold from its revenues. It depicts the margin that a business is earning from its operating activities.

To Compute: The revenues, expenses and income of the given income statement.

Answer 8

Expert Solution & Answer

Explanation of Solution

a.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 34, 050 = $ 8, 000 + $ 38, 000 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 46, 000 - $ 34, 050 \\ E n d i n g i n v e n t o r y = $ 11, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 62, 000 - $ 34, 050 \\ = $ 27, 950 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 27, 950 - $ 10, 000 \\ = $ 17, 950 \end{array}$

b.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 16, 000 = $ 17, 050 + P u r c h a s e s - $ 3, 000 \\ P u r c h a s e s = $ 19, 000 - $ 17, 050 \\ P u r c h a s e s = $ 1, 950 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 43, 500 - $ 16, 000 \\ = $ 27, 500 \end{array}$

c.

$\begin{array}{l} C O G S = S a l e s - G r o s s \Pr o f i t \\ = 46, 000 - $ 3, 750 \\ = $ 42, 250 \\ C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 42, 250 = $ 7, 500 + P u r c h a s e s - $ 9, 000 \\ P u r c h a s e s = $ 42, 250 - $ 7, 500 + $ 9, 000 \\ = $ 43, 750 \end{array}$

d.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ = $ 8, 000 + $ 32, 000 - $ 6, 600 \\ = $ 33, 400 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ S a l e s = G r o s s \Pr o f i t + S a l e s \\ = $ 45, 600 + $ 33, 400 \\ = $ 80, 000 \end{array}$

e.

$\begin{array}{l} C O G S = B e g i n n i n g i n v e n t o r y + P u r c h a s e s - E n d i n g i n v e n t o r y \\ $ 7, 000 = $ 4, 560 + $ 6, 600 - E n d i n g i n v e n t o r y \\ E n d i n g i n v e n t o r y = $ 11, 160 - $ 7, 000 \\ E n d i n g i n v e n t o r y = $ 4, 160 \\ G r o s s \Pr o f i t = S a l e s - C O G S \\ = 25, 600 - $ 7, 000 \\ = $ 18, 600 \\ N e t I n c o m e = G r o s s \Pr o f i t - E x p e n s e s \\ = $ 18, 600 - $ 6, 000 \\ = $ 12, 600 \end{array}$