Acct 311 HW 5 of 6- Chapter 8 and 9-Summer 2017 The following income statement related chart has a number of omitted balances. Fill in the amounts that are missing. 1. 2018 $ 410,000 2017 2016 290,000 Sales revenue Sales returns and allowances Net sales Beginning inventory Ending inventory Purchases Purchase returns and allowances Freight-in Cost of goods sold 11,000 13,000 347,000 32,000 20,000 5,000 8,000 233,000 46,000 260,000 8,000 9,000 298,000 10,000 12,000 293,000 97,000 Gross profit on sales 91,000