Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Selling expenses MUNSUN COMPANY Income Statement For the Year Ended November 30, 2022 Administrative expenses Net income Additional information: 1. 2. 3. 4. 5. $1,900,000 4,400,000 6,300,000 1,600,000 450,000 700,000 $7,600,000 4,700,000 2,900,000 1,150,000 $1,750,000 Accounts receivable decreased $380,000 during the year, and inventory decreased $300,000. Prepaid expenses increased $150,000 during the year. Accounts payable to suppliers of inventory decreased $350,000 during the year. Accrued expenses payable decreased $100,000 during the year. Administrative expenses include depreciation expense of $110,000.

Computing Cost of Goods Sold and Ending Inventory Bartov Corporation reports the following beginning inventory and purchases for the year: Beginning inventory Inventory purchased 600 1,050 $10 each $6,000 $12 each 12,600 $18,600 Cost of goods available 1,650 units Bartov sells 900 of these units in the year. Compute its cost of goods sold for the year and the ending inventory reported on its year-end balance sheet under each of the following inventory costing methods: (Do not round until your final answer. Round to the nearest whole number.) FIFO LIFO Average cost Cost of goods sold $ 0 $ 0 $ 0 Ending inventory 0 0 0 Check

Net sales Cost of goods sold Gross margin Operating expenses Net income Cash Accounts receivable, net Merchandise inventory Plant assets, net Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equity Goliath Company Comparative Income Statements For Years Ended December 31 Current Year One Year Ago $ 206,000 $ 184,000 108,000 121,000 85,000 45,000 $ 40,000 76,000 40,000 $ 36,000 Goliath Company Comparative Balance Sheets For Years Ended December 31 Current Year $ 153,000 58,000 30,000 170,000 $ 411,000 $ 36,000 190,000 60,000 125,000 $ 411,000 Required: Using the above information, compute the following: Two Years Ago $ 160,000 92,000 68,000 36,000 $ 32,000 One Year Ago $ 158,000 52,000 17,000 170,000 $ 397,000 $ 32,000 220,000 60,000 85,000 $ 397,000 Three Years Ago $ 114,000 78,000 36,000 19,000 $ 17,000 Two Years Ago $ 129,000 45,000 23,000 140,000 $ 337,000 $ 28,000 200,000 60,000 49,000 $ 337,000 Three Years Ago $ 156,000…

Administrative Expense Cost of Goods Sold Income Tax Expense Sales Returns and Allowances Selling Expense Sales of merchandise for cash Sales of merchandise on credit 20, 200 171,eee 18,800 7,600 42,600 270, eee 45,000 Required: 1. Based on these data, prepare a multi-step income statement for internal reporting pm MYSTERY INCORPORATED Income Statement For the Year Ended December 31 Operating expenses:

LOGIC COMPANY     Comparative Income Statement     For Years Ended December 31, 2017 and 2018                       2018 2017   Gross sales $ 23,800   $ 18,600     Sales returns and allowances   1,000     100     Net sales $ 22,800   $ 18,500     Cost of merchandise (goods) sold   10,800     7,200     Gross profit $ 12,000   $ 11,300     Operating expenses:               Depreciation $ 1,180   $ 840     Selling and administrative   5,800     4,400     Research   1,030     740     Miscellaneous   840     540     Total operating expenses $ 8,850   $ 6,520     Income before interest and taxes $ 3,150   $ 4,780     Interest expense   1,040     740     Income before taxes $ 2,110   $ 4,040     Provision for taxes   844     1,616     Net income $ 1,266   $ 2,424         LOGIC COMPANY     Comparative Balance Sheet     December 31, 2017 and 2018                   2018 2017   Assets               Current assets:               Cash $…

Administrative expenses Net income Additional information: AWN2 The income statement of Carla Company is shown below. Carla Company Income Statement For the Year Ended December 31, 2025 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Operating expenses Selling expenses 2. 3. 5. $1,890,000 4,410,000 6,300,000 1,590,000 450,000 700,000 $6.930,000 1. Accounts receivable decreased $370,000 during the year. Prepaid expenses increased $160,000 during the year. Accounts payable to suppliers of merchandise decreased $290,000 during the year. Accrued expenses payable decreased $90,000 during the year. Administrative expenses include depreciation expense of $50,000. 4,710,000 2,220,000 1,150,000 $1,070,000 Prepare the operating activities section of the statement of cash flows using the direct method.

Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Sales Revenues, gross Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit $ Case A 8,500 200 6,000

Portions of the financial statements for Peach Computer are provided below. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable PEACH COMPUTER Selected Balance Sheet Data December 31 2024 $106,000 45,400 79,000 3,400 $1,090,000 600,000 54,000 44,000 49,000 5,400 2023 $87,000 51,000 57,000 5,800 39,000 12,000 $1,900,000 1,788,000 $112,000 Increase (I) or Decrease (D) $19,000 (I) 5,600 (D) 22,000 (I) 2,400 (D) 10,000 (I) 6,600 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (Amounts to be deducted should be indicated with a minus sign.)

The income statement of Bob Christiana Company is presented here. BOB CHRISTIANA COMPANY Income Statement For the Year Ended November 30, 2012 Sales revenue   $7,700,000 Cost of goods sold       Beginning inventory   Purchases $1,900,000 4,400,000   Goods available for sale Ending inventory 6,300,000 1,400,000   Total cost of goods sold   4,900,000 Gross profit   2,800,000 Operating expenses   1,150,000 Net income   $1,650,000 Additional information: Accounts receivable increased $380,000 during the year, and inventory decreased $250,000. Prepaid expenses increased $170,000 during the year. Accounts payable to suppliers of merchandise decreased $340,000 during the year. Accrued expenses payable decreased $50,000 during the year. Operating expenses include depreciation expense of $110,000. Instructions Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2012, for…

LOGIC COMPANY     Comparative Income Statement     For Years Ended December 31, 2017 and 2018                       2018 2017   Gross sales $ 20,400   $ 16,050     Sales returns and allowances   900     100     Net sales $ 19,500   $ 15,950     Cost of merchandise (goods) sold   11,650     8,650     Gross profit $ 7,850   $ 7,300     Operating expenses:               Depreciation $ 840   $ 670     Selling and administrative   3,250     2,700     Research   690     570     Miscellaneous   500     370     Total operating expenses $ 5,280   $ 4,310     Income before interest and taxes $ 2,570   $ 2,990     Interest expense   700     570     Income before taxes $ 1,870   $ 2,420     Provision for taxes   748     968     Net income $ 1,122   $ 1,452         LOGIC COMPANY     Comparative Balance Sheet     December 31, 2017 and 2018                   2018 2017   Assets               Current assets:               Cash $ 12,700   $…