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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 2017 2016 Gross
Need help figuring out these blanks, please. Thank you.
LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017 2017 2016 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses $19,200 $15,150 100 $18,300 $15,050 8,950 $ 6,350 6,100 900 11,950 $720 610 2,100 510 310 $ 4,020 3,530 $ 2,330 $ 2,570 510 $ 1,750 2,060 824 $ 1,050 1,236 Depreciation 2,350 570 380 Selling and administrative Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes Net income 580 700Step by Step Solution
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