2 Fill in the blanks in the following separate income statements a through e. 3 4 a C 5 Sales 6 Cost of goods sold 7 Merchandise inventory, beginning $62,000 $43,500 $55,000 $25,600 8,000 17,050 7,500 8 Total cost of merchandise purchases 38,000 8,000 4,566 32,000 6,600 9 Merchandise inventory, ending 11,950 3,000 9,000 6,600 4,160 10 Cost of goods sold 34,050 16,000 7,000 11 Gross profit 27,950 27,500 12,750 45,600 18,600 12 Expenses 10,000 10,650 12,150 3,600 6,000 13 Net income (loss) $17,950 $16,850 $600 $42,000 $12,600 14