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 Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) b $ 68,000 $ 44,300 $ 54,000 $ 25,800 7,800 16,860 6,600 8,000 4,450 36,000 29,000 5,700 2,100 8,800 6,800 33,480. 16,000 6,700 14,050 42,800 25,000 11,290 12,800 3,300 7,100 $ 17,010 $ 1,250 $ 39,500