Supply the missing dollar amounts for the income statement for each of

QUESTION

Supply the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In case B, work from the bottom up)
Case A Case B Case C Net sales revenue $7,500 $5,500 $6,000 _____________________________ Beginning inventory $11,200 $6,500 $4,000 Purchases $5,000 $8,550 $9,500 ______________________________ Goods available for sale $16,200 $15,050 $13,500 Ending inventory $10,200 $11,050 $9,000

___________________________ Cost of goods sold $6,000 $4,000 $4,500 _____________________________ Gross profit $1,500 $1,500 $1,500 Expenses $400 $1,900 $700 Pretax income $1,100 ($400) $800

ANSWER:

CLICK REQUEST FOR  AN EXPERT SOLUTION