Powell Company has the following account balances, extracted from its multiple-step income statement for the current year.

Required:

Compute the missing amounts.

Sales	$124,300
Sales Returns and Allowances	4,300
Sales Discounts	3,400
Net Sales	116,600
Cost of Goods Sold	49,700
Gross Profit
Selling Expenses	7,700
General and Administrative Expenses
Total Operating Expenses
Net Income	49,500