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Q1) Fill in the blanks in separate income statements given below a through e. Recognize any negative amount by putting it in parentheses.

	A	B	C	D	E
Sales	$60,00	$42,500	$36,000	$ ?	$23,600
Cost of goods sold
Merchandise inventory (beginning)	6,000	17,050	7,500	7,000	2,560
Total cost of merchandise purchases	36,000	?	?	32,000	5,600
Merchandise inventory (ending)	?	(2,700)	(9,000)	(6,000)	?
Cost of goods sold	34,050	15,900	?	?	5,600
Gross profit	?	?	3,750	45,600	?
Expenses	9,000	10,650	12,150	2,600	6,000
Net income (loss)	$ ?	$ 15,950	$ (8,400)	$ 43,000	$ ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M920028

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