Exercise 4-1 computing revenues, expenses, and income LO C1, C2

please explain formulas and solutions

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.) d b $ 62,000 $ 43,500 $ 46,000 $ 25,600 4,560 6,600 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 (los) 8,000 17,050 7,500 8,000 38,000 1,950 32,000 (3.000) (9.000) (6.600) 34,050 16,000 27,950 27,500 3.750 45,600 10,000 10,650 12.150 3.600 $ 17,950 $ 16,850 $ (8.400) $ 42.000 7,000 18,600 6,000