Presented below are the components in Sunland Company’s income statement.Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income(a) $78,400 $ $39,300 $ $14,600(b) $110,500 $76,900 $ $ $23,200(c) $ $79,900 $84,400 $47,300 $

Income statement: It is a financial statement prepared by a company that reports revenues and…

Answered: Determine the missing amounts.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 14PB: Assuming a companys year-end inventory were understated by $16,000, indicate the effect...

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Presented below are the components in Sunland Company’s income statement.

Determine the missing amounts.

	Sales Revenue	Cost of Goods Sold	Gross Profit	Operating Expenses	Net Income
(a)	$78,400	$	$39,300	$	$14,600
(b)	$110,500	$76,900	$	$	$23,200
(c)	$	$79,900	$84,400	$47,300	$

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