Question
Neymar Corp. purchases all merchandise inventory on credit and uses a perpetual inventory system.The Accounts Payable account is used for recording merchandise inventory purchases only.All
Neymar Corp. purchases all merchandise inventory on credit and uses a perpetual inventory system.The Accounts Payable account is used for recording merchandise inventory purchases only.All other current liabilities are accrued in separate accounts.
You are provided with the following selected information for the most recent three years:
Income statement data 2015 2014 2013
Net sales $(1) $295,900 $285,400
Cost of goods sold 189,000 (5) 173,600
Gross profit 109,600 104,100 (9)
Operating expenses (2) 61,100 (10)
Income tax expense 10,400 7,800 9,100
Profit $46,800 $(6) $39,000
Statement of financial position data
Merchandise inventory $(3) $19,100 $13,000
Accounts payable 32,500 (7) 26,000
Additional information
Purchase of merchandise inventory $183,300 $(8) $171,600
Cash payments to suppliers (4) 208,000 165,100
Calculate the missing amounts for items (1) through (10). Round to the nearest dollar.
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