Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e d e Sales $ 62,000 $ 44,300 $ 40,000 $ 24,900 Cost of goods sold Merchandise inventory, beginning 8,600 16,550 5,300 7,300 4,460 Total cost of merchandise purchases 37,000 33,000 5,500 Merchandise inventory, ending 2,800 8,700 5,200 Cost of goods sold 33,860 19,000 8,000 Gross profit 13,250 43,500 Expenses 25,000 11,530 12,400 3,300 6,700 Net income (loss) n 13.770 $ 850 $ 40,200