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 $286,500 Cost of goods sold: Beginning inventory $56,010 Net purchases $(a) 15,000 187,520 Transportation-in Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold $243,530 Gross profit $91,680 Operating expenses Income before tax ( $62,340 Income tax expense Net income Item a. Net purchases b. Cost of goods sold CEnding inventory d. Operating expenses e. Net income