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Calculating revenues, expenses, and income.
Fill in the blanks in the following separate income statements a through e. Identify any negative amount by putting it in parentheses.
A
B
C
D
Sales
$60,00
$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)
(6,000)
34,050
15,900
Gross profit
3,750
45,600
Expenses
9,000
10,650
12,150
2,600
Net income (loss)
$ 15,950
$ (8,400)
$ 43,000
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