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.) 71,000 $ 44,300 $ 49,000 24,400 16,800 5,500 4,400 7,200 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) 7,900 44,000 (5,200) 6,300 (8,300) (2,600) 17,000 33,000 7,700 19,000 5,400 11.440 (6,040) 44.900 4,000 40,900 10,000 17,300 7,000 $ $ $