BE5-1 Presented below are the components in Waegelain Company’s income statement.

Determine the missing amounts.

Sales

(a) $75,000

(b) $108,000

(c) ?

Cost of Goods Sold

?

$70,000

$71,900 Gross Profit

$30,000

?

$79,600 Operating Expenses

?

|

$39,500 Net Income

$10,800

$29,500

?