Determining Amounts for Items Omitted from Income Statement One item is omitted in each of the following four lists of income statement data. Sales $448,000 (b) Cost of merchandise sold (a) $330,750 Gross profit 84,380 83,830 Determine the missing amount. $1,245,000 (c) 467,975 (d) $437,750 123,845 a. b. c. d. Purchase-Related Transactions Warwick's Co., a women's clothing store, purchased $24,000 of merchandise from a supplier on account, terms FOB destination, 1/10, 1/30. Warwick's returned $3,600 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period. a. Journalize Warwick's Co.'s entry to record the purchase. b. Journalize Warwick's Co.'s entry to record the merchandise return I ODIO Journalize Rather Co.'s entries for (a) the purchase of merchandise on account and (b) the payment of the amount due. (b) Freight lerms Determine the amount to be paid in full settlement of each of two invoices (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. Merchandise Freight Terms Returns and Allowances Freight Paid by Seller $100 200 $9,200 $1,400 FOB shipping point, 2/10, n/30 FOB destination, 1/10,n/30 b. 3,400 900 a. b. $ Gross Profit During the current year, merchandise is sold for $142,100 cash and $404,900 on account. The cost of merchandise sold is $399,300. What is the amount of the gross profit