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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.) BRE Corrigan,
Consider the following partially completed income statements for merchandising companies and compute the missing amounts: (Click the icon to view the Income Statements.) BRE Corrigan, Inc. $ 101,000 48,000 Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Purchases and Freight in Cost of Goods Available for Sale Ending Merchandise Inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses (2,300) 62,000 39,000 11,000 Operating Income Data Table Corrigan, Inc. Fit Apparel $ (d) Net Sales Revenue $ 101,000 Cost of Goods Sold: Beginning Merchandise Inventory 29,000 (a) 48,000 (e) Purchases and Freight In Cost of Goods Available for Sale (b) (2,300) 87,000 (2,300) Ending Merchandise Inventory Cost of Goods Sold 62,000 () 39,000 115,000 Gross Profit Selling and Administrative Expenses (c) 87,000 $ 11,000 $ (g) Operating Income
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