This is a Merchandising Mathematics Problem, not a direct accounting equation

5. Set up a skeletal profit-and-loss statement with the following figures: Cost of merchandise sold Expenses Profit 51.30% $317,820 4.65% 6. Determine the figures necessary to complete a skeletal profit-and-loss statement with the following figures: Net sales $470,720 Gross margin 43.62% Loss 2.30% 7. Set up a skeletal profit-and-loss statement with the following figures: Gross margin $119,760 Expenses 41.20% Profit 2.60% 8. Determine (a) net sales and (b) customer return percent for the handbag department when the following transactions occurred: Sales Returns $69.00 175.00 $69.00 85.00 69.00 28.00 110.00 36.00 36.00 98.00 50.00 140.00 5. Set up a skeletal profit-and-loss statement with the following figures: Cost of merchandise sold Expenses Profit 51.30% $317,820 4.65% 6. Determine the figures necessary to complete a skeletal profit-and-loss statement with the following figures: Net sales $470,720 Gross margin 43.62% Loss 2.30% 7. Set up a skeletal profit-and-loss statement with the following figures: Gross margin $119,760 Expenses 41.20% Profit 2.60% 8. Determine (a) net sales and (b) customer return percent for the handbag department when the following transactions occurred: Sales Returns $69.00 175.00 $69.00 85.00 69.00 28.00 110.00 36.00 36.00 98.00 50.00 140.00