3) Determine the missing amounts: ABC Co. XYZ Co.

Sales Revenue $90,000 (e)

Sales Returns and Allowances (a) 3,000

Net Sales 88,000 97,000

Cost of Goods Sold 56,000 (f)

Gross Profit (b) 36,000

Operating Expenses 22,000 (g)

Income from Operations ( c) (h)

Other Expenses and Losses 4,000 7,000

Net Income (d) 13,000