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In: Accounting

Fill in the blanks in the following separate income statements a through e.


Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) 

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Expert Solution

a.Ending Inventory = 8,100+43,000- 33,700

= $(17,400)

Gross Profit = 28,300

Net Income = 16,300

B

Cost of purchases = 19,000+2,800-16,140

= $5,660

Gross Profit = 24,400

c.

Cost of goods sold = 37,000-3,100

= $33,900

Purchases = 36,200

D

Cost of goods sold = 7,100+44,000-5,500 = $45,600

Sales = 45,600+42,400

= $88,000

E

Ending Inventory = 4,320+5,100-6,700

= $(2,720)

Gross Profit = 19,300

Net Income = $11,800

ekkarill92 answered 2 years ago
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