Question
Consider the following partially completed income statements for merchandising companies and compute the missing amounts: (Click the icon to view the Income Statements.) Data
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 Jones, Inc. Laura's Bakery Net Sales Revenue 101,000 Cost of Goods Sold Net Sales Revenue Laura's Jones, Inc. 101,000 Bakery $(d) Beginning Merchandise Inventory 10,400 $ 31,000 Cost of Goods Sold: Purchases and Freight In 47,000 Beginning Merchandise Inventory (a) 31.000 Cost of Goods Available for Sale 65,400 87,000 47,000 Purchases and Freight In Ending Merchandise Inventory (2,400) (2.400) Cost of Goods Available for Sale (0) 87,000 Cost of Goods Sold 63,000 (2,400) (2.400) Ending Merchandise Inventory Gross Profit 38,000 110,000 Cost of Goods Sold 63,000 10 Selling and Administrative Expenses 25,000 87,000 Gross Profit 38,000 110,000 13,000 Operating Income Salling and Administrative Expenses (c) 87,000 $ 13.000 $(g) Operating Income Print Done x
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