Part A The FINANCIAL STATEMENTS Cost of goods sold (COGS) Advertising expense Accounts receivable Loss on sale of land $60,000 8,000 30,000 6,000 Dividends Sales revenue Inventory Common stock $2,000 100,000 50,000 3,000 Using the amounts above, what amount is reported on the income statement for: Gross profit? Net income? A1 A2 Using the amounts above, compute the: A3 Gross profit rate. A4 Profit margin. The Broadway hit "Hamilton" operations for the month of December are summarized below: In December, Sold $1 million in ticket sales Of the $1 million in tickets sold, $600,000 is collected in cash and $400,000 is recorded on account. .Paid December operating bills of $200,000 As of December 31: A5 Uneash basis of accounting, "Net income" will be reported on the income statement? A6 Under accrual basis of accounting, "Net income" will be reported on the income statement? A7 Under cash basis of accounting, "Accounts receivable" will be reported on the balance sheet? A8 Under accrual basis of accounting, "Accounts receivable" will be reported on the balance sheet? A9 Under cash basis of accounting, if $200,000 in December performances were postponed until January, what would be the deferred revenue in December? A10 Under accrual basis of accounting, if $200,000 in December performances were postponed until January, what would be the deferred revenue in December