Financial information is presented here for two companies.
(a)
Fill in the missing amounts.
Pharoah Company
Sheridan Company
Sales revenue
$80,000
(d) $
Sales returns and allowances
(a)
4,000
Net sales
74,500
90,000
Cost of goods sold
52,150
(e)
Gross profit
(b)
28,800
Operating expenses
14,900
(f)
Net income
(c)
11,700
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