E6-22A. (Learning Objective 4: Using the cost-of-goods-sold model) Supply the missing Income Statement amounts for each of the following companies:

Requirement 1. Prepare the Income Statement for Chris Company, for the year ended December 31. Use the cost-of-goods-sold model to compute cost of goods sold. Chris’s operating and other expenses, as adapted, for the year were $42,000. Ignore income tax.

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Cost of Beginning Net Ending Goods Gross Company Net Sales Inventory Purchases Inventory Sold Profit Chris Ford $125,000 138,000 $21,000 $65,000 $19,000 (a) (b) 26,000 (c) 27,000 (d) 44,000 Arthur (e) (f) 65,000 32,000 60,000 38,000 Michaels 94,000 11,000 32,000 (g) 38,000 (h)