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E7-3 Inferring Missing Amounts Based on Statement of Earnings Relationships L07-1 Compute the missing dollar amounts for the 2021 statement of earnings of Kwan Company
E7-3 Inferring Missing Amounts Based on Statement of Earnings Relationships L07-1 Compute the missing dollar amounts for the 2021 statement of earnings of Kwan Company for each of the following independent cases: Case C Sales revenue Case A Case B $ 10,200 $ 7,100 260 286 7,020 4,110 9,530 7,600 12,650 6.100 131 181 405 710 Sales returns and allowances Net sales revenue Beginning inventory Purchases Transportation-in Purchase returns Cost of goods available for sale Ending inventory Cost of sales Gross profit Expenses (operating) Pretax earnings (loss) 13,590 15,010 10,630 11,100 5,510 2,000 1,410 910 1,510 0 $ $ (610) $
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