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Consider the following partially completed income statements for merchandising companies and compute the missing amounts: LOADING... (Clickthe icon to view the Income Statements.) Flynt Corp.

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

LOADING...

(Clickthe icon to view the Income Statements.)

Flynt Corp.

Sales

$100,000

Cost of Goods Sold:

Beginning Merchandise Inventory

Purchases and Freight In

47,000

Cost of Goods Available for Sale

Ending Merchandise Inventory

(2,100)

Cost of Goods Sold

63,000

Gross Profit

37,000

Selling and Administrative Expenses

Operating Income

$10,000

How do I determine the answers to the missing information?

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