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E7-2 (Algo) Inferring Missing Amounts Based on Income Statement Relationships LO7-1 Enter the missing dollar amounts for the income statement for each of the following
E7-2 (Algo) Inferring Missing Amounts Based on Income Statement Relationships LO7-1 Enter the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up.) Net sales revenue Beginning inventory Purchases Case A Case B $ 7,620 $ 11,060 $ 6,620 4,930 Goods available for sale 15,100 Case C $ 6,180 $ 3,940 9,460 13,400 Ending inventory 10,390 10,990 Cost of goods sold 4,300 Gross profit 1,300 Expenses 300 690 Pretax income (loss) $ 1,720 $ (520) $ 1,190
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