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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 Fit Apparel Laura's Bakery $ 99,000 Fit Apparel Laura's Bakery 99,000 32,000 $ (d) 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 Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory 88,000 (2,000) 32,000 (e) 48,000 (2,000) 63,000 (6) 88,000 (2,000) 36,000 (2,000) 112,000 86,000 Purchases and Freight In Cost of Goods Available for Sale Ending Merchandise Inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses 63,000 14.000 Operating Income 36,000 112,000 86,000 14,000 Operating Income $ Print Done
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