Given the following income statement information for Gomes Ornament Company, determine the missing amount (Net Sales, Net purchases, goods available for sale, cost of goods sold, and gross profit.

Question 3 Merchandise Company-Income Statement Given the following Income Statement information for Gomes Ornament Company, determine the missing amounts (Net Sales, Net Purchases, Goods Available for Sale, Cost of Goods Sold, and Gross Profit). $35,000 500 $5,000 Sales Sales Returns and Allowances Net Sales S hi Cost of Goods Sold: Beginning Inventory Purchases Purchases discounts Purchases returns and allowances Net purchases Transportation-in Goods available for sale Ending inventory Cost of goods sold Gross profit $ 15,000 500 500 400 3,000