Exercise 5-1 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 $ 43,400 $ 37,000 $ 26,000 16.140 8.100 43,000 5,900 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) 7.100 44,000 (5,500) 4,320 5,100 (8,200) (2.800) 19.000 33,700 6,700 12,000 10,990 $ 13,410 3,100 42.400 11,840 3,700 S (8,740) S 38.700 7.500