S12-11. (Learning Objective 4: Using ratio data to reconstruct an Income Statement) A skeleton of Athol Country Florist’s Income Statement appears as follows (amounts in thousands):

Use the following ratio data to complete Athol Country Florist’s Income Statement:

a. Inventory turnover was 4 (beginning inventory was $748; ending inventory was $726).

b. Net profit margin is 12%.

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A1 1 2 Net sales 3 Cost of goods sold 4 Selling expenses 5 Administrative expenses 6 Interest expense 7 Other expenses 8 Income before taxes 9 Income tax expense 10 Net income 11 Income Statement $ 7,500 (a) 1,511 328 (b) 154 1,046 $ (d)