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Given the following income statement information for Dundee Corporation, determine the missing amounts. Sales..$30,000 Beginning Inventory...???? Purchases...9,600 Purchases Discounts.....150 Purchases Returns & Allowances???? Net Purchases............9,200

Given the following income statement information for Dundee Corporation, determine the missing amounts.

Sales………………………………………………………..$30,000

Beginning Inventory…………………………………………...????

Purchases……………………………………………………...9,600

Purchases Discounts………………………………………….....150

Purchases Returns & Allowances………………………………????

Net Purchases…………………………………………............9,200

Transportation-In…………………………………………..........400

Goods Available for Sale……………………………………12,600

Ending Inventory…………………………………………......?????

Cost of Goods Sold…………………………………………..11,100

Gross Profit…………………………………………................?????

Operating Expenses…………………………………………....????

Net Income…………………………………………..........$12,800

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