Brief Exercise 5-1

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Presented here are the components in Blossom Companys income statement. Determine the missing amounts.

		Sales Revenue			Cost of Goods Sold			Gross Profit			Operating Expenses			Net Income
Year 1		$ 76,060			$Enter a dollar amount for year 1	(b)		$ 33,000			$Enter a dollar amount for year 1	(d)		$12,700
Year 2		$111,000			$71,800			$Enter a dollar amount for year 2	(c)		$Enter a dollar amount for year 2	(e)		$31,500
Year 3		$Enter a dollar amount for year 3	(a)		$74,730			$111,090			$48,600			$Enter a total net income for year 3	(f)