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Revolve Company's income statement information for 2016 and 2017 (a sole proprietorship) is as follows: 2016 2017 Cost of goods sold $ (a) $59,300 Interest
Revolve Company's income statement information for 2016 and 2017 (a sole proprietorship) is as follows:
2016 | 2017 | |||
Cost of goods sold | $ (a) | $59,300 | ||
Interest expense | 600 | 0 | ||
Selling expenses | (b) | 10,800 | ||
Operating income | 21,800 | (d) | ||
Sales (net) | 96,000 | (e) | ||
General expenses | 7,900 | (f) | ||
Net income | (c) | 21,600 | ||
Interest revenue | 0 | 600 | ||
Gross profit | 39,000 | 40,200 |
Required:
Compute the missing amounts labeled (a) through (f). All the necessary information is listed. (Hint: It is not necessary to calculate your answers in alphabetical order.)
(a) Cost of goods sold | $ |
(b) Selling expenses | $ |
(c) Net income | $ |
(d) Operating income | $ |
(e) Sales (net) | $ |
(f) General expenses | $ |
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