Presented below are selected amounts from a merchandising company's Income Statement accounts. Required: Calculate the missing amounts, and place your answers in the spaces provided. IMPORTANT NOTICE: You will receive ZERO CREDIT unless your calculations are shown in logical order at the bottom of this page. Sales Sales Returns and Allowances Sales Discounts Net Sales Beginning Inventory Purchases Purchase Returns and Allowances Purchase Discounts Freight-in Net Purchased Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Margin Operating Expenses Net Income $95,000 ? 5,000 ? 72,000 ? 7,000 2,000 8,000 65,000 ? ? 60,000 20,000 ? $5,000