net income? (e) In what section of its classified balance sheet should Laquen report inventory? E5-13 Presented below is financial information for two different companies. ate. Winter Company Summer Company $92,000 Sales revenue Sales returns Net sales Cost of goods sold Gross proft Operating expenses Net income $ 5,000 102,000 87,000 56,000 41,500 15,000 18,000 Instructions (a) Determine the missing amounts. (b) Determine the gross profit rates. (Round to one decimal place.) E5-14 Financial information is presented below for three different companies. Hardy Cosmetics Wang Sales revenue Sales returns and allouo Grocery Wholesalers S (e) $122,000