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92:40 :08 2. Stout Company has gross sales of 250% of cost of goods sold. It has also provided the following information for the calendar
92:40 :08 2. Stout Company has gross sales of 250% of cost of goods sold. It has also provided the following information for the calendar year 2022: Inventory balance, 1/1, 2022 $20,000 Total cost of goods available for sale 84,000 Purchase returns 2,000 Freight in 800 Sales 169,800 Operating expenses 7,500 Required: $ Using the available information, compute the following: 1. Net purchase for 2022 O gross purchase for 2022 2. Cost of goods for 2022. 3.Inventory balance at December 31, 2022 4. Gross margin for 2022 5. Net income for 2022 (12) () @ @@@ 9
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