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Complete the chart. Assets Liabilities Capital $420,000 $216,987 $29,780 $44,500 $199,784 $306,420 $1,400,687 $989,499 Answer the questions about the word problem. Lynette's Dress Shop began
Complete the chart. Assets Liabilities Capital $420,000 $216,987 $29,780 $44,500 $199,784 $306,420 $1,400,687 $989,499 Answer the questions about the word problem. Lynette's Dress Shop began August with an inventory of $40,000. They purchased $17,900 worth of inventory during the month. They ended the month with an inventory of $37,500. They had $34,500 in sales during the month with $600 in returns. Their expenses for the month were $14,800. What was the cost of goods available for sale? What was the cost of goods sold? What were the net sales? What was the gross profit? Did they have a net profit or net loss? How much was the net profit or loss
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