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Exercise 2: Income Statement calculations. Shown below are the data from four different income statements. Some of the amounts have been omitted. Required: Fill
Exercise 2: Income Statement calculations. Shown below are the data from four different income statements. Some of the amounts have been omitted. Required: Fill in the missing figures. Sales 200,000 9,000 75,000 Beginning inventory 12,000 1,000 22,000. Purchases 30,000 8,000 Ending inventory 18,000 18,000 1,000 Cost of goods sold 14,000 20,000 Gross profit Expenses Net income 55,000 2,000 180,000 3,000 5,000 18,000 4,000
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