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AutoSave OFF ACCT 201 FINAL FALL 2020 R Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri v 11 AA ap Wrap Text v General Insert v Ex AP - O. x Delete v E = $ ~ % " Conditional Format Cell Sort & Find & Ideas Sensitivity Paste BIU V V DVAv Merge & Center v Formatting as Table Styles Format v Filter Select G21 + X V fx B C D E G H J K M N 0 P Q R S T U STATUS: DONE! When you are finished with this exercise, change the status to "DONE!" ALT-PERIODIC-INCOME-STATEMENT Choose exercise (1-5) 10 00 Crain Company began the year with an inventory balance of $22,000. During the year, the company made inventory purchases of $180,000. Crain's sales for the year amounted to $240,000 and operating expenses were $23,000. A physical inventory was taken on 12/31, and the inventory amount was $39,000. Fill in the following periodic income statement. Crain Company Income Statement For the Year Ended 12/31/2017 ALES BEGINNING INVENTORY 20 PURCHASES COST OF GOODS AVAILABLE ENDING INVENTORY COST OF GOODS SOLD 24 GROSS PROFIT 25 OPERATING EXPENSES 26 NET INCOME 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 0. STUDENT INFO 1. PERIODIC IS 2. FIFO-T 3. BANK RECON 4. INT. CONTROL 5. FIN STMTS 6. INTEREST CALCS 7. MULTIPLE CHOICE 8. YOUR THOUGHTS + D + 100% Ready