Question: BE5.1 (LO 1) Presented below are the components in Clearwater Pools' income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit

BE5.1 (LO 1) Presented below are the components in Clearwater Pools'

BE5.1 (LO 1) Presented below are the components in Clearwater Pools' income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Net Income a. 78,000 108,000 ? b. ? 55,000 83,900 Operating Expenses ? ? 39,500 30,000 ? 79,600 10,800 29,500 ? c. BE5.2 (LO 2, 3) Giovanni Leather Goods buys merchandise on account from Gordon Tannery. The selling price of the goods is 780, and the cost of the goods is 560. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies

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