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Need help figuring out these blanks, please. Thank you. LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017 2016 Gross sales
Need help figuring out these blanks, please. Thank you.
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017 2016 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses $20,200 $15,900 100 $19,200 $15,800 8,700 $ 7,500 7,100 2017 1,000 11,700 Depreciation $820 660 2,600 560 360 $ 5,070 4,180 $ 2,430 $ 2,920 560 $ 1,750 2,360 944 3,100 670 480 Selling and administrative Research Miscellaneous Total operating expenses Income before interest and Interest expense Income before taxes Provision for taxes taxes 680 700 Net income $ 1,050 1,416Step by Step Solution
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