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E5-14 Financial information is presented below for three different companies. Holloway Cosmetics Jin Grocery Kwon Wholesalers Sales revenue $90,000 $ (e) Sales returns and allowances
E5-14 Financial information is presented below for three different companies. Holloway Cosmetics Jin Grocery Kwon Wholesalers Sales revenue $90,000 $ (e) Sales returns and allowances (a) 5,000 $122,000 12,000 Net sales 86,000 95,000 (i) Cost of goods sold 56,000 (f) (j) Gross profit (b) 38,000 24,000 Operating expenses 15,000 (g) 18,000 Income from operations (c) (h) (k) Other expenses and losses 4,000 7,000 (1) Net income (d) 11,000 5,000 Instructions Determine the missing amounts
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