Exercise 5-1 (Static) Computing revenues, expenses, and income LO C1 Fill in the blanks in the following separate income statements a through e. a b d e Sales $ 62,000 $ 43,500 $ 55,000 $ $ 25,600 7,500 8,000 38,000 11,950: 17,050 1,950 4,560 6,600 9,000 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) 4,164 7,000 34,050 8,000 32,000 6,600 33,400 45,600 3,600 42,000 3,000 16,000 27,500 10,650 16,850 $ 27,950 10,000 17,950 12,750 12,150 6,000 $ $ 600 $