Presented below are the components in Gates Company"s income statement. Determine the missing amounts.
|
Sales Revenue
|
Cost of Goods Sold
|
Gross Profit
|
Operating Expenses
|
Net Income
|
|
a
|
$75,000
|
?
|
$30,000
|
?
|
$10,800
|
|
b
|
$108,000
|
$70,000
|
?
|
?
|
$29,500
|
|
c
|
?
|
$83,900
|
$79,600
|
$39,500
|
?
|
Compute missing amounts in determining net income.