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Review the income statement data for each of the following companies: 1. Supply the missing income statement amounts for each of the companies. 2. Prepare
Review the income statement data for each of the following companies:
1. Supply the missing income statement amounts for each of the companies.
2. Prepare the income statement for Sutherland Company for the year ended December 31, 2018. Use the cost-of-goods-sold model to compute cost of goods sold. Sutherland's operating and other expenses for the year were $36,000. Ignore income tax.
Beginning Net Ending Cost of Gross Goods Sold Profit Company Net Sales Inventory Purchases Inventory Sutherland $ 100,000 $ 20,000 $ 59,000 $ 16,000 (a) (b) Crossen 125,000 28,000 45,000 (d) 52,000 (C) 52,000 Williams (e) (f) 20,000 60,000 36,000 Scott 88,000 7,000 29,000 (g) 33,000 (h)Step by Step Solution
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