vow the income Statements Data table 1 Smith, Inc. 101.000 $ Smith, Inc. $ 101,000 Allen, Inc. 5 (d) 50,000 Not Sales Revenue Cost of Goods Sold: Beginning Morchandise Inventory Purchases and Freight in Cost of Goods Available for Sale Ending Merchandise inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income (a) 50,000 (2.200) 61.000 Net Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory Purchases and Freight in Cost of Goods Available for Sale Ending Merchandise Inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income 29,000 (0) 89,000 (2.200) (6) (2.200) 40,000 $ 12,000 61,000 40,000 (c) 12.000 10 114.000 84.000 SCO Print Done