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.) $ cd $ 53,000 62,000 $ 44,700 26,700 16,040 6,700 8,800 31,000 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) 7,100 44,000 (7,000) 6400 (8,000) (2,400) 17,000 33,770 7,500 10,000 5,100 11,630 (6,530) 10,590 17.110 49.200 4.800 44,400 7,800 $ $ S