Question: 1) Using your accounting knowledge, find the missing amounts in the following separate income statements. a b d e Sales $62,000 $43,500 $46,000 $25,600 Cost

1) Using your accounting knowledge, find the missing amounts in the following separate income statements. a b d e Sales $62,000 $43,500 $46,000 $25,600 Cost of Goods Sold Merchandise Inventory 8.000 17,050 7,500 8.000 4,560 (Beginning) Total Cost of 38,000 32,000 6,600 Merchandise Purchases Merchandise Inventory (3,000) (9.000) (6,600) (Ending) Cost of Goods Sold 34,050 16,000 7,000 Gross Profit 3,750 45,600 Expenses 10,000 10,650 12,150 3,600 6,000 Net Income (Loss) $16,850 $(8,400) $42,000 Ending Inventory Net Income a. Gross Profit b. Total Purchases Gross Profit C. Gross Profit Total Purchases Cost of Goods Sold d. e. Ending Inventory Net Income

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