Exercise 4-1 Computing revenues, expenses, and income LO C1, C2 Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) a b d e $ 68,000 $ 44,300 $ 42,000 $ 24,200 8,600 16,920 6,800 7,000 4,530 53,000 43,000 5,800 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) (8,600) (6,600) (2,900) 20,000 33,970 6,900 4,200 49,700 14,000 10,260 5,800 6,300 10,870 13,430 $ $ (6,060) $ 43,900