A CLASSIFIED INCOME STATEMENT FOR A MERCHANDISING BUSINESS. For each of the cases presented below, compute the
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A CLASSIFIED INCOME STATEMENT FOR A MERCHANDISING BUSINESS. For each of the cases presented below, compute the missing amounts: lol
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A B C D Gross sales revenue ? $34,000 $7,900 $ 7 Sales returns Net sales revenue Cost of goods sold 100 300 700 ? 33,500 41,400 ? 21,200 29,600 Gross margin Operating expenses 5,000 3,000 Income from operations ? 5,700 1,100 2 Other expenses Income before taxes Income taxes expense Net income Beginning inventory Purchases Purchase returns Transportation-in Cost of goods available for sale Ending inventory Cost of goods sold 400 200 1,200 ?? 4,900 ? 2,200 300 2,500 $ 1,200 $ ? $ 7 $ 4,700 $3,500 $4,800 $ ? $ 1,300 ? 26,300 2,900 31,900 200 1,100 ? 50 200 1,600 430 ? 14,500 3,500 33,100 3,700 10,900 800 $ ? $21,200 $ ? $29,600
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