Part V: Fill in the blanks ( 1.0 mark) Income statement Unit: USD \begin{tabular}{|c|c|c|} \hline & 2021 & 2022 \\ \hline\( (1) \) & 800.000 & 600.000 \\ \hline Less & 500.000 & 500.000 \\ \hline Gross margin & 300.000 & \( (2) \) \\ \hline Less General and & 90.000 & 90.000 \\ Administrative expenses & & \\ \hline Operating margin & \( (3) \) & 10.000 \\ \hline Less taxes & 10.000 & 7.000 \\ \hline\( (4) \) & 200.000 & \( (5) \) \\ \hline \end{tabular}
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This is the top line of the income statement, so (1) = Sales (Revenue). Check: Sales = Gross margin + COGS; for 2021 Sales = 300,000 + 500,000 = 800,000 (matches the table). Show more…
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