Question

Exercise 4-1 Computing revenues, expenses, and income LO C1, C2 Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) a b c d e Sales $ 71,000 $ 44,200 $ 42,000 $ 25,500 Cost of goods sold Merchandise inventory (beginning) 7,900 16,600 7,000 7,000 4,540 Total cost of merchandise purchases 60,000 27,000 6,900 Merchandise inventory (ending) (3,000) (8,100) (6,300) 6,900 Cost of goods sold 33,060 18,000 3,400 49,400 Gross profit 25,000 10,650 10,350 3,600 7,800 Expenses Net income (loss) $ 15,550 $ (6,950) $ 45,800

          Exercise 4-1 Computing revenues, expenses, and income LO C1, C2
Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus
sign.)
a
b
c
d
e
Sales
$ 71,000 $ 44,200 $ 42,000
$ 25,500
Cost of goods sold
Merchandise inventory (beginning)
7,900
16,600
7,000
7,000
4,540
Total cost of merchandise purchases
60,000
27,000
6,900
Merchandise inventory (ending)
(3,000)
(8,100)
(6,300)
6,900
Cost of goods sold
33,060
18,000
3,400
49,400
Gross profit
25,000
10,650
10,350
3,600
7,800
Expenses
Net income (loss)
$ 15,550 $ (6,950) $ 45,800

Exercise 4-1 Computing revenues, expenses, and income LO C1, C2
Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus
sign.)
a
b
c
d
e
Sales
71,000 44,200 42,000 25,500
Cost of goods sold
Merchandise inventory (beginning)
7,900
16,600
7,000
7,000
4,540
Total cost of merchandise purchases
60,000
27,000
6,900
Merchandise inventory (ending)
(3,000)
(8,100)
(6,300)
6,900
Cost of goods sold
33,060
18,000
3,400
49,400
Gross profit
25,000
10,650
10,350
3,600
7,800
Expenses
Net income (loss)
15,550 (6,950) 45,800

Added by Michael G.

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