Morris Company has the following account balances, extracted from itsmultiple-step income statementfor the current year.

Required:

Compute the missing amounts.

Sales

$

106,500

Sales Returns and Allowances

Sales Discounts

4,800

Net Sales

Cost of Goods Sold

60,300

Gross Profit

36,400

Selling Expenses

General and Administrative Expenses

12,500

Total Operating Expenses

22,400

Net Income