a Sales $ EA b C 68,000 $ 44,300 $ 42,000 e 24,200 Cost of goods sold Merchandise inventory, beginning 8,600 16,920 6,800 7,000 4,530 Total cost of merchandise purchases 53,000 43,000 5,800 Merchandise inventory, ending 2,900 8,600 6,600 Cost of goods sold 33,970 20,000 6,900 Gross profit 13,150 49,700 Expenses 14,000 10,870 12,350 5,800 6,300 Net income (loss) $ 13,430 $ 800 43,900