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.) Sales $ 62,000$ 43,500$ 46,000 S 25,600 Cost of goods sold 8,000 32,000 (3,000) (9,000)(6,600) 8,000 17,050 7,500 4,560 38,000 6,600 Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold 34,050 6,000 7,000 Gross profit 3,750 45,600 10,0000,6500 3,600 6,000 Net income (loss) 16,850 $ (8,400) 42,000 ??? 28219 Hints Worksheet Difficulty: 2 Medium Exercise 4-1 Computing revenues, expenses, and income LO C1 Learning Objective: 04-C1 Describe merchandising activities and identify Income components for a merchandising company heducation.com/hm.tpx?todo c15SinglePrintView&singleQuestionNo 2 &postSubmissionViewa 1325270698439012