Presented below is financial information for two different

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Reference no: EM13576481

Presented below is financial information for two different companies.

 

Lee Company

Chan Company

Sales

$90,000

(d)

Sales returns

(a)

$ 5,000

Net sales

81,000

95,000

Cost of goods sold

56,000

(e)

Gross profit

(b)

41,500

Operating expenses

15,000

(f)

Net income

(c)

15,000

Instructions

Determine the missing amounts.

Reference no: EM13576481

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