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 Cost of goods sold: $167,500 Beginning inventory Net purchases Transportation-in Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit Operating expenses Income before tax Income tax expense Net income Item a. Net purchases b. Cost of goods sold c. Ending inventory d. Operating expenses e. Net income $32,750 $(a) 8,770 109,630 69 $ Amount $142,380 (c) (b) $53,600 (d) $36,450 12,760 $(e)