Fill in the blanks in the following separate income statements a through e. Sales 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) 3 $ 62,000 $ 8,000 38,000 34,050 10,000 $ b 43,500 $ 55,000 17,050 3,000 15,000 10,650 16,850 $ 7,500 9,000 12,750 12,150 600 $ 8,000 32,000 6,500 45,600 3,600 42,000 S 25,600 4,560 6,600 7,000 6,000

Fill in the blanks in the following separate income statements a through e. Sales 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) 3 $ 62,000 $ 8,000 38,000 34,050 10,000 $ b 43,500 $ 55,000 17,050 3,000 15,000 10,650 16,850 $ 7,500 9,000 12,750 12,150 600 $ 8,000 32,000 6,500 45,600 3,600 42,000 S 25,600 4,560 6,600 7,000 6,000

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...

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