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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 7,580 $ 11,180 $ 6,650 4,870 Goods available for sale Ending inventory 10,280 15,230 10,880 Case C $ 6,170 $ 3,830 9,330 13,160 Cost of goods sold 4,430 Gross profit 1,460 Expenses 230 560 Pretax income (loss) $ 1,580 $ (510) $ 1,180
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