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
|
$ ? |