Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. Sales $ 66,000 $ 45,200 $ 50,000 $ 24,500 Cost of goods sold Merchandise inventory, beginning 8,900 16,550 6,300 7,900 4,330 Total cost of merchandise purchases 35,000 35,000 5,600 Merchandise inventory, ending 2,500 8,200 6,800 Cost of goods sold 33,720 18,000 7,500 Gross profit 14,150 43,400 Expenses 20,000 11,830 12,850 5,000 7,400 Net income (loss) $ 15,370 $ 1,300 $ 38,400