Income Statement for a Merchandiser

Solve for the missing amounts corresponding to the letters in the following income statement for Carpenters Department Store Inc.

Net sales					$122,040
Cost of goods sold:
Beginning inventory			$23,400
Net purchases		$(a)
Transportation-in		6,550
Cost of goods purchased			81,150
Cost of goods available for sale			$104,550
Ending inventory			(c)
Cost of goods sold					(b)
Gross profit					$38,600
Operating expenses					(d)
Income before tax					$26,300
Income tax expense					10,300
Net income					$(e)

Item	Amount
a. Net purchases	$
b. Cost of goods sold	$
c. Ending inventory	$
d. Operating expenses	$
e. Net income	$