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Gross Sales Revenue 250,000 Sales Discounts 5,000 Cost of Goods Sold 143,000 Depreciation Expense 10,000 Sales Returns & Allowances 2,000 Accounts Payable 43,000 Common

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Gross Sales Revenue 250,000 Sales Discounts 5,000 Cost of Goods Sold 143,000 Depreciation Expense 10,000 Sales Returns & Allowances 2,000 Accounts Payable 43,000 Common Stock 100,000 Accounts Receivable 110,000 Freight-out 1,500 Utilities Expense 12,000 (Just because something is listed above does not mean that you need it to answer the following) SHOW YOUR WORK... Use the amounts above, if needed, to calculate: (examples: $145,000-43,000-56,000 = 46,000... OR... 15,000+4,000-6,000 = 13,000) Net Sales= Gross Profit= Net Profit=

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