Income Statement Calculations O'Connor Company's income statement information is as follows: Year 2 Year 3 Beginning inventory 5 (a) $ (d) Sales 206,000 {9) Purchases 130,000 140,000 Purchases returns and allowances 7,000 6,000 Ending inventory 62,000 {f} Gross prot (b) 100,000 Cost of goods sold 114,000 120,000 Selling expenses 35,000 36,000 Transportationin 2,000 5,000 General and administrative expenses 20,000 (9) Net income (c) 43,000 Required: Compute the missing amounts labeled (a) through (g). All the necessary information is listed. (Hint: It is not necessaryr to calculate your answers in alphabetical order.) (a) Beginning inventory Year 2 _ J (In) Gross prot Year 2 _ VI Cc] Net income Year 2 _ 9' (cl) Beginning inventory Year 3 _ V (e) Sales Year 3 $ J (f) Ending inventory Year 3 $:] (g) General and administrative expenses Year 3 _ J