CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Problem 5-7A (Part Level Submission) Alana Inc. operates a retail operation that purchases and sells home entertainment products. The company purchases al merchandise inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording inventory purchases only all other current liabilities are accrued in separate accounts (a) You are provided with the following selected information for the fiscal years 2016 through 2019, inclusive. Calculate the missing amounts. 2016 2017 2018 2019 Income Statement Data Sales revenue $55,000 $47,000 Cost of goods sold 13,800 14,300 Gross profit 38,300 35,200 Operating expenses 34,900 (0) 28,600 Net income 2,500 Balance Sheet Data Inventory $7,200 (0) $8,100 2,500 Accounts payable 3,200 3,600 (0) Additional Information Purchases of merchandise inventory on account $14,200 (9) $13,200 Cash payments to suppliers 13,600 Click if you would like to Show Work for this question: Open Show Work