Particulars A

Sales P $100,000$

Sales Returns $3,500$

Sales Discounts

Net Sales $85,000$

Beginning Inventory

Purchases $56,500$

Purchase Discounts $2,500$

Purchase Returns $1,200$

Goods Available for Sale $62,000$

Ending Inventory

Cost of Goods Sold $50,200$

Gross Income

Operating Expenses $20,000$

Net Income $($Loss$)$