Question: Current Attempt in Progress Kingbird, Inc. operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on



Current Attempt in Progress Kingbird, Inc. operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all 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. You are provided with the following selected information for the fiscal years 2020 through 2023, inclusive (a) Calculate the missing amounts 2020 2021 2022 2023 Income Statement Data Sales revenue $115.000 $ 87,000 Cost of soods sold $100 ( 27.840 Gross profit 83,950 59160 Operating expenses 75,000 deo If Net income S 8,00 b $ 3.480 $ Balance Sheet Data Inventory $15,000 S $17700 $ Accounts payable 6.800 7.500 5,600 Additional Information Purchases of inventory on account 30,890 s 8 Cash payments to suppliers (d) ch) Kingbird, Inc operates a retail operation that purchases and sells snowmobiles, among other outdoor products. The company purchases all inventory on credit and uses a periodic inventory system. The Accounts Payable account is used for recording invente purchases only, all other current liabilities are accrued in separate accounts. You are provided with the following selected informat for the fiscal years 2020 through 2023, inclusive (a) Calculate the missing amounts 2020 2021 2022 2023 $115,000 $ 87.000 $84.000 31.050 (a) 27,840 27,880 83.950 59,160 (0 75.900 55680 (1) 52,480 8.050 (5) $3,480 $ $15.000 $ c) $17,700 $ () 6,800 7,500 5,600 (1) 30,890 (e) $29,050 (d) (h) 29,550
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