Could you please help me fill in the blanks? Thank you Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1Fill in the blanks in the following separate income statements a through e.SalesCost of goods soldMerchandise inventory, beginningTotal cost of merchandise purchasesMerchandise inventory, endingCost of goods soldGross profitExpensesNet income (loss)$ 62,000 $8,80031,0006,03033,77028,23010,000$ 18,230 $b44,700 $ 53,00016,040C2,40017,00027,70010,59017,110 $6,7008,00039,05013,95012,7501,200$d7,10044,0007,00049,2004,80044,400$e26,7004,3806,4007,5007,800

Gross profit means the profit earned by selling the goods without considering the indirect expenses…

Answered: Fill in the blanks in the following…

Business

Accounting

Fill in the blanks in the following separate income statements a through e.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Could you please help me fill in the blanks? Thank you

Exercise 4-1 (Algo) Computing revenues, expenses, and income LO C1
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)
$ 62,000 $
8,800
31,000
6,030
33,770
28,230
10,000
$ 18,230 $
b
44,700 $ 53,000
16,040
C
2,400
17,000
27,700
10,590
17,110 $
6,700
8,000
39,050
13,950
12,750
1,200
$
d
7,100
44,000
7,000
49,200
4,800
44,400
$
e
26,700
4,380
6,400
7,500
7,800

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