Book Hint Print rences Exercise 4-1 (Static) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) $ 62,000 $ 43,500 $ 8,000 38,000 34,050 10,000 b $ 17,050 3,000 16,000 10,650 16,850 $ 55,000 7,500 9,000 12,750 12,150 600 $ d 8,000 32,000 6,600 45,600 3,600 42,000 $ e 25,600 4,560 6,600 7,000 6,000

Book Hint Print rences Exercise 4-1 (Static) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) $ 62,000 $ 43,500 $ 8,000 38,000 34,050 10,000 b $ 17,050 3,000 16,000 10,650 16,850 $ 55,000 7,500 9,000 12,750 12,150 600 $ d 8,000 32,000 6,600 45,600 3,600 42,000 $ e 25,600 4,560 6,600 7,000 6,000

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.13MCE

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