Teal Mountain Inc. operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory purchases only; all other current liabilities are accrued in separate accounts. You are provided with the following selected information for the fiscal years 2020 through 2023, inclusive.

(a)

Calculate the missing amounts.

		2020		2021			2022			2023
Income Statement Data
Sales revenue				$89,000			$enter a dollar amount	(e)		$69,000
Cost of goods sold				enter a dollar amount	(a)		23,680			23,460
Gross profit				62,300			51,680			enter a dollar amount	(i)
Operating expenses				58,740			enter a dollar amount	(f)		44,160
Net income				$enter a total net income	(b)		$ 2,960			$enter a total net income	(j)
Balance Sheet Data
Inventory		$12,200		$enter a dollar amount	(c)		$13,500			$enter a dollar amount	(k)
Accounts payable		5,400		6,100			4,200			enter a dollar amount	(l)
Additional Information
Purchases of inventory on account				23,890			$enter a dollar amount	(g)		$22,050
Cash payments to suppliers				enter a dollar amount	(d)		enter a dollar amount	(h)		22,550