Exercise 5-08 a-b (Part Level Submission) Financial information for two companies are presented below.

(a)

Fill in the missing amounts.

		Yoste Company		Noone Company
Sales revenue		$90,000		$enter a dollar amount
Sales returns and allowances		enter a dollar amount		5,000
Net sales		84,000		100,000
Cost of goods sold		58,000		enter a dollar amount
Gross profit		enter a subtotal of the two previous amounts		40,000
Operating expenses		14,380		enter a dollar amount
Net income		enter a total net income		17,000