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Consider the following partially completed income statements for merchandising companies and compute the missing amounts: (Click the icon to view the Income Statements.) Data table

Consider the following partially completed income statements for merchandising companies and compute the missing amounts: (Click the icon to view the Income Statements.) Data table Net Sales Revenue Cost of Goods Sold: Lee Supply $ 102,000 Net Sales Revenue Lee Supply $ 102,000 Fit Apparel $(d) Cost of Goods Sold: Beginning Merchandise Inventory Beginning Merchandise Inventory (a) 32,000 Purchases and Freight In 52,000 52,000 (e) Purchases and Freight In Cost of Goods Available for Sale Cost of Goods Available for Sale (b) 93,000 Ending Merchandise Inventory (1,900) (1,900) (1,900) Ending Merchandise Inventory Cost of Goods Sold 64,000 Cost of Goods Sold 64,000 (f) Gross Profit 38,000 Gross Profit 38,000 115,000 Selling and Administrative Expenses $ 15,000 Selling and Administrative Expenses (c) 85,000 Operating Income $ 15,000 $(g) Operating Income Print Done - X

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