Question: Financial information is presented here for two entities: Bright Ltd Dull Ltd Sales $180,890 ? Sales returns ? $9,250 Net sales 164,490 187,800 Cost of

Financial information is presented here for two entities:

Bright Ltd Dull Ltd
Sales $180,890 ?
Sales returns ? $9,250
Net sales 164,490 187,800
Cost of sales 112,540 ?
Gross profit ? 70,800
Operating expenses 28,470 ?
Profit ? 24,220

(a)

Fill in the missing amounts. (Enter negative amounts using either a negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).)

Bright Ltd & Dull Ltd

Bright Ltd Dull Ltd
Sales $180,890 $
Sales returns (9,250)
Net sales $164,490 $187,800
Net sales $164,490 $187,800
Cost of sales (112,540)
Gross profit $ $70,800
Gross profit $ $70,800
Operating expenses (28,470)
Profit $ $24,220

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