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Need help on requirement 2, please. Review the income statement data for each of the following companies: :: (Click the icon to view the data.)
Need help on requirement 2, please.
Review the income statement data for each of the following companies: :: (Click the icon to view the data.) Read the requirements Requirement 1. Supply the missing income statement amounts for each of the companies. Gross Company Profit Sutherland $ 37.000 Beginning Net Ending Cost of Net Sales Inventory Purchases Inventory Goods Sold 100,000 $ 20,000 $ 59,000 $ 16,000 $ 63,000 $ 125,000 28,000 90.000 45,000 73,000 96,000 28,000 52,000 20,000 60,000 88,000 7,000 29,000 3.000 33.000 Crossen 52.000 Williams 36,000 Scott 55,000 Requirement 2. Prepare the income statement for Sutherland Company for the year ended December 31, 2018. Use the cost-of-goods-sold model to compute cost of goods sold. Sutherland's operating and other expenses for the year were $36,000. Ignore income tax. Sutherland Company Income Statement Data Table Year Ended December 31, 2018 Net sales revenue 100,000 Beginning Net Cost of goods sold: Ending Cost of Gross Beginning inventory 20000 Company Net Sales Inventory Purchases Inventory Goods Sold Net purchases 59000 Sutherland $ 100,000 $ 20,000 $ 59,000 $ 16,000 (a) (b) 79000 Cost of goods available Crossen 125,000 28,000 (c) 45,000 (d) 52.000 16000 Williams (e) (1) 52,000 20,000 60,000 Ending inventory 36,000 Scott 88,000 7,000 29,000 (9) 33,000 (h) Cost of goods sold Gross profit Print Done Operating and other expenses Profit 63000 Net income (loss)Step by Step Solution
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