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Income Statements: Missing Numbers

In the following four tables, there appear income statements missing three numbers each. Determine these missing numbers (found in question marks "?"), show equations used and assume taxes are apart of "period expenses".

Number 1:

Sales - 2250
Cost of Goods Sold:
Beginning Inventory: 300
Plus: Purchases: 975
Less Ending Inventory: 225
Cost of Goods Sold: ?
Gross Margin: ?
Period Expenses: 300
Net income (loss): ?

Number 2:

Sales - 1800
Cost of Goods Sold:
Beginning Inventory: 225
Plus: Purchases: ?
Less Ending Inventory: 300
Cost of Goods Sold: 900
Gross Margin: ?
Period Expenses: 400
Net income (loss): ?

Number 3:

Sales - 1350
Cost of Goods Sold:
Beginning Inventory: ?
Plus: Purchases: 850
Less Ending Inventory: 300
Cost of Goods Sold: ?
Gross Margin: ?
Period Expenses: 150
Net income (loss): 150

Number 4:

Sales - 2100
Cost of Goods Sold:
Beginning Inventory: 300
Plus: Purchases: 1200
Less Ending Inventory: ?
Cost of Goods Sold: ?
Gross Margin: 750
Period Expenses: ?
Net income (loss): (50)

Solution Summary

Excel file shows calculations of missing numbers in the income statement.

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