3. Consider the data of the following companies which use the periodic inventory system (Click the icon to view the data.) Read the requirements Requirement 1. Supply the missing amounts for each of the following companies: Ending Cost of Goods Sold Company Ash Beginning Net Sales Merchandise Net Cost of Merchandise Revenue Inventory Purchases Inventory $ 109,000 $ 20,000 $ 63,000 $ 17.000 25,000 98,000 90,000 52,000 21,000 85,000 9.000 400 Gross Profit 43,000 49,000 $ Elm 96,000 64,000 Oak 53,000 Requirement 2. Prepare the income statement for the year ended December 31, 2019, for Ash Company, which uses the periodic inventory system. Include a complete heading and show the full computation of cost of goods sold. Ash's operating expenses for the year were $17,000. (1) (2) C Cost of Goods Sold: (9) (10) Net Income 4: Data Table Company Ash Elm Fir Beginning Ending Net Sales Merchandise Net Cost of Merchandise Revenue Inventory Purchases Inventory $ 109,000 $ 20.000 $ 63,000 $ 17.000 (b) 25,000 98,000 (c) 90.000 (d) 52,000 21,000 85.000 9.000 4,000 Cost of Goods Sold (a) $ 96.000 64.000 (9) Gross Profit 43,000 49,000 Oak 53,000 5: Requirements 1. Supply the missing amounts in the preceding table. 2. Prepare the income statement for the year ended December 31, 2019, for Ash Company, which uses the periodic inventory system. Include a complete heading, and show the full computation of cost of goods sold. Ash's operating expenses for the year were $17.000. (1) December 31, 2019 Year Ended December 31, 2019 O Ash Company O Balance Sheet Income Statement (2) O O Ash Company Balance Sheet Income Statement December 31, 2019 Year Ended December 31, 2019 (3) o December 31, 2019 Year Ended December 31, 2019 Ash Company Balance Sheet Income Statement (4) Operating Expenses Total Expenses Beginning Merchandise Inventory Cost of Goods Available for Sale Cost of Goods Sold Gross Profit Less: Ending Merchandise Inventory ONet Cost of Purchases Net Sales Revenue (5) O Operating Expenses Total Expenses Beginning Merchandise Inventory Cost of Goods Available for Sale Cost of Goods Sold Gross Profit Less: Ending Merchandise Inventory ONet Cost of Purchases ONet Sales Revenue Operating Expenses Total Expenses (6) O O Beginning Merchandise Inventory O Cost of Goods Available for Sale O Cost of Goods Sold O Gross Profit Less: Ending Merchandise Inventory Net Cost of Purchases Net Sales Revenue Operating Expenses Total Expenses (7) O O Beginning Merchandise Inventory Cost of Goods Available for Sale Cost of Goods Sold O Gross Profit Less: Ending Merchandise Inventory Net Cost of Purchases Net Sales Revenue (8) O Operating Expenses Total Expenses Beginning Merchandise Inventory Cost of Goods Available for Sale Cost of Goods Sold Gross Profit Less: Ending Merchandise Inventory ONet Cost of Purchases O Net Sales Revenue