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I need help with 5-8 Ch 6 In class assignment-submitted in Canvas Salaries expense $280,000 Sales revenue $800,000 Utilities expense 1,000 Interest income 3,000 Income

image text in transcribedI need help with 5-8
Ch 6 In class assignment-submitted in Canvas Salaries expense $280,000 Sales revenue $800,000 Utilities expense 1,000 Interest income 3,000 Income tax expense 19,000 Interest expense 5,000 Cost of goods sold 390,000 Rent Expense 18,000 Sales returns 10,000 Inventory (begin) 50,000 Inventory (end) 55,000 Determine: 1. Net sales 2. Gross profit 3. Operating expenses $ 4. Operating income 5. Pretax income (IBT) 6. Net income 7. Purchases 8. Gross profit ratio (two decimal places) Use the following for 9 and 10 Units Cost per unit Beginning inventory 10 $80.00 Purchase 1 100 $81.00 Purchase 2 100 $82.00 The company sold 205 units 100 DO 9. Determine ending inventory using FIFO: $ 10. Determine ending inventory using LIFO: $

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