Question
Multiple Step Income Statement Calculations Company A Company B Company C Company D Sales Revenue $2,000 (4) $480 $1,310 Beginning Inventory 200 76 0 600
Multiple Step Income Statement Calculations
Company A Company B Company C Company D
Sales Revenue $2,000 (4) $480 $1,310
Beginning Inventory 200 76 0 600
Purchases (1) 423 480 249
Purchases Returns 20 19 0 (8)
Ending Inventory 300 110 (6) 195
Cost of Goods Sold 1,200 370 (7) (9)
Gross Profit (2) (5) 155 (10)
Operating Expenses 108 22 34 129
Net Income (3) 107 121 546
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Principles of Auditing and Other Assurance Services
Authors: Ray Whittington, Kurt Pany
19th edition
978-0077804770, 78025613, 77804775, 978-0078025617
