Exercise 4-1 Computing revenues, expenses, and income LO C1 Using your accounting knowledge, find the missing amounts in the following separate income statements. (Amounts to be deducted should be indicated by a minus sign.) $ 68,000 $ 43,600 $ 53,000 $ 27,000 10,000 5.400 8,000 35.000 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 7,200 28,000 7,600) 4,500 0600 (8,300) (2000) 18,000 33,860 7800 3.400 19.000 10.000 S14100 7300 41,100 4.600 36.500 10.410 010) 7 $