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E7-2: LO7-1: Inferring Missing Amounts Based on Income Statement Relationships Supply the missing dollar amounts for the income statement for each of the following independent

E7-2: LO7-1: Inferring Missing Amounts Based on Income Statement Relationships Supply the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up.)

Column 1

Case A

Case B

Case C

Net sales revenue

$7500

$ ?

$5,050

Beginning inventory

$11200

$7000

$4,000

Purchases

$4500

$8,050

$9,500

Goods available for sale

$15,700

15050

$13,500

Ending inventory

$9,000

$11,050

?

Cost of goods sold

$6,700

?

4200

Gross profit

?

$800

?

Expenses

$300

?

$700

Pretax income (loss)

$500

($200)

$150

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