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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 $23,600 $18,450 100 $22,800 $18,350 7,300 $11,950 $11,050 800 10,850 Depreciation $1,160 830 4,300 730 530 $ 8,640 6,390 $ 3,310 $ 4,660 730 $ 2,290 3,930 1,572 $1,374 2,358 5,650 1,010 820 Selling and administrative Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes Net income 1,020 916Step by Step Solution
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