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    Calculating revenues, expenses, and income

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    Fill in the blanks in the following separate income statements a through e. Identify any negative amount by putting it in parenthesis.

    See attached file.

    Sales............................................... $60,000 $42,500 $36,000 $ ? $23,600
    Cost of goods sold ..............................
    Merchandise Inventory (beginning)........... 6,000 17,050 7,500 7,000 2,560
    Total cost of merchandise purchases ......... 36,000 ? ? 32,000 5,600
    Merchandise Inventory (ending)............... ? (2,700) (9,000) (6,600) ?
    Cost of goods sold ............................... 34,050 15,900 ? ? 5,600
    Gross profit ....................................... ? ? 3,750 45,600 ?
    Expenses .......................................... 9,000 10,650 12,150 2,600 6,000
    Net Income (lost) ................................. $ ? $15,950 $(8,400) $43,000 $ ?

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    https://brainmass.com/business/accounting/calculating-revenues-expenses-and-income-190362

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