a b e Sales $ 71,000 $ 44,200 $ 42,000 25,500 7,900 16,600 7,000 7,000 4,540 60,000 27,000 6,900 Cost of goods sold Merchandise inventory beginning Total cost of merchandise purchases Merchandise inventory ending Cost of goods sold Gross profit Expenses Net income (loss) 8,100 6,300 3,000 18,000 33,060 6,900 12,950 49,400 25,000 12,250 7,800 10,650 15,550 $ 3,600 45,800 $ 700