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Exercise 5-1 Computing revenues, expenses, and income LO C1, C2 Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) b d Sales $ 64,000 $ 44,800 $ 39,000 $ 24,200 16,720 5,800 4,480 7,300 32,000 7,300 33,000 (7,600) 6,700 (8,900) Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) (2,800) 17,000 33,630 7,700 17,000 4,300 11,890 11,820 $ 15,910 $ (7,520) 48,700 5,700 43,000 6,700 $