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Consider the following partially completed income statements for merchandising companies and compute the missing amounts: A - G Rustic Gear Snyder Corp Net Sales Revenue

Consider the following partially completed income statements for merchandising companies and compute the missing amounts: A - G

Rustic Gear Snyder Corp
Net Sales Revenue $101,000 D
Cost of goods sold
Beginning Merchandise Inventory A 30,000
Purchases and Freight in 51,000 E
Cost of Goods Available for Sale B 88,000
Ending Merchandise Inventory -2,400 -2,400
Cost of goods sold 6,000 F
Gross profit 41,000 111,000
Less: Selling and Administrative expenses C 83,000
Operating Income 15,000 G

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