AB Ltd. presents the following selected accounts, all balances are after adjusting journal entries. All accounts have normal balances (accounts which are normally debits have debit balances here and visa-versa). Prepare a multi-step income statement.

Accumulated Depreciation Office Equipment 250

Advances from Customers 3,800

Advertising Expense 1,300

Depreciation Expense-Office Equipment 50

Insurance Expense 150

Inventory at beginning of the period 20,200

Inventory at the end of the period 17,000

Office Salaries Expense 8,500

Office Supplies Expense 530

Purchases Discounts 550

Purchases Returns and Allowance 370

Purchases 10,281

Rent Expense 1,000

Salaries Expense of Salespeople 10,281

Sales Discounts 1,180

Sales Returns and Allowances 1,760

Sales 40,050

Transportation In 300

Transportation Out 400

QUESTION 1

a. ABs Cost of Goods Available for Sale for the period must have been

b. ABs Cost of Goods Sold for the period must have been:

c. ABs Gross Profit on Sales in dollars for the period must have been:

d. ABs total Operating Expenses (not including COGS) for the period must have been

e. ABs Net Income (loss) in dollars for the period must have been