Using the following information, what is the amount of income from operations? Purchases $ 27,369 Selling expenses $ 762 Merchandise inventory, September 1 5,510 Merchandise inventory, September 30 8,133 Administrative expenses 780 Sales 56,403 Rent revenue 759 Interest expense 1,175

Using the following information, what is the amount of gross profit?​ Purchases $42,000 Merchandise inventory, September 1 5,700 Selling expense 1,050 Merchandise inventory, September 30 7,100 Sales 85,000 Interest expense 1,240 Administrative expense 1,610 Rent revenue 1,200

If beginning inventory is $1,998, ending inventory is $1,407 and cost of goods sold is $11,158, how much is purchases?

Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, and (4) all debits to Accounts Payable reflect cash payments for inventory. FORTEN COMPANY Income Statement For Current Year Ended December 31 Sales $ 582,500 Cost of goods sold 285,000 Gross profit 297,500 Operating expenses (excluding depreciation) $ 132,400 Depreciation expense 20,750 153,150 Other gains (losses) Loss on sale of equipment (5,125) Income before taxes 139,225 Income taxes expense 24,250 Net income $ 114,975 FORTEN COMPANY Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 49,800 $ 73,500 Accounts receivable 65,810 50,625 Inventory 275,656 251,800 Prepaid expenses 1,250 1,875 Total current assets 392,516 377,800 Equipment 157,500 108,000 Accumulated…