23. Smith Company had the following information during the past year: Beginning Inventory of $40,000, Purchases of $400,000 and Ending inventory $52,000. Smith Company's Cost of Goods Sold for the year is a $372.000 b. $388,000 c. $412,000 d. $440,000 31. Which of the following is not an income statement account? a. Salaries expense b. Retained Earnings c. Sales Revenue d. Cost of Goods Sold 33. For the year ended December 31, 2020 Bonanza Corp has Sales of $75,000 and COGS of $41,000 and Operating expenses of 14,000. What is Bonanza Corp's gross profit? a $20,000 b. S34,000 c. $75,000 d. $27.000