Financial information is presented below for three different companies. (LO 5) Athena Harry Panama Cosmetics Grocery Wholesalers

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Financial information is presented below for three different companies.

(LO 5) Athena Harry Panama Cosmetics Grocery Wholesalers Sales revenue $90,000 $

(e) $122,000 Sales returns and allowances

(a) 5,000 12,000 Net sales 86,000 95,000 (i)

Cost of goods sold 56,000

(f) (j)

Gross profit

(b) 22,000 24,000 Operating expenses 15,000 (g) 18,000 Income from operations

(c) (h) (k)

Other expenses and losses 4,000 3,000 (1)

Net income

(d) 11,000 5,000 Instructions Determine the missing amounts.

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Financial Accounting

ISBN: 9780470929384

8th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather

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