This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. (Enter loss amounts as a negative number.) Beginning Net Sales Inventory Net Purchases Ending Inventory Cost of Goods Sold Net Income Gross Profit Expenses or (Loss) a. 320,000 76,000 104,000 35,200 175,200 72,000 b. 570,000 73,000 280,000 264,000 20,000 C. 630,000 190,000 160,000 441,000 189,000 150,000 d. 780,000 450,000 135,000 234,000 280,000 e. 156,000 200,000 350,000 120,000 (15,000)