Question: Fill in the blanks in the following separate income statements a through e. Identify any negative amount by putting it in parenthesis.
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Sales...............................................
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$60,000
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$42,500
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$36,000
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$ ?
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$23,600
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Cost of goods sold ..............................
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|
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Merchandise Inventory (beginning)...........
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6,000
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17,050
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7,500
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7,000
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2,560
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Total cost of merchandise purchases .........
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36,000
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?
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?
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32,000
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5,600
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Merchandise Inventory (ending)...............
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?
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(2,700)
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(9,000)
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(6,600)
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?
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Cost of goods sold ...............................
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34,050
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15,900
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?
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?
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5,600
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Gross profit .......................................
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?
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?
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3,750
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45,600
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?
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Expenses ..........................................
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9,000
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10,650
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12,150
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2,600
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6,000
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Net Income (lost) .................................
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$ ?
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$15,950
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$(8,400)
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$43,000
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$ ?
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