Income Statement for a Merchandiser Solve for the missing amounts corresponding to the letters in the following income statement for Carpenters Departm Net sales Cost of goods sold: Beginning inventory Net purchases Transportation-in Cost of goods purchased $253,200 $49,500 $(a) 13,260 165,730 Cost of goods available for sale Ending inventory Cost of goods sold $215,230 Gross profit Operating expenses Income before tax Income tax expense Net income $81,020 $55,090 19,280 $(e) Item Amount a. Net purchases 152,470 v b. Cost of goods sold 49,500X c. Ending inventory d. Operating expenses e. Net income $ 25,930 35,810V