Exercise 5-1 Computing revenues, expenses, and income LO C1 Using your accounting knowledge, find the missing amounts in the following separate income statements. (Amounts to be deducted should be indicated by a minus sign.) d a $ 62,000 $ 43,500 $ 46,000 $ 25,600 8,000 38,000 4,560 6,600 Sales Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) 34,050 17,050 7,500 8,000 32,000 (3,000) (9,000) (6,600) 16,000 3,750 45,600 10,650 12,150 3,600 16,850 $ (8,400) $ 42,000 7,000 10,000 6,000 $