LU 16-2a EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS Need more practice? Try this Extra Practice Quiz (check figures in the Interactive Chapter Organizer). Worked-out Solutions can be found in Appendix B at end of text. From the following information calculate a. Net sales b. Cost of merchandise (goods) sold c. Gross profit from sales d. Net income Given: Gross sales, $36,000; sales returns and allowances $2,800, beginning inventory, $5,900, net purchases, $6,800, ending inventory, $5,200, operating expenses $8,100 406 LU 16-3a EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS Need more practice? Try this Extra Practice Quiz (check figures in the Interactive Chapter Organizer). Worked-out Solutions can be found in Appendix B at end of text. 1. Prepare a trend analysis from the following sales assuming a base year of 2015 Round to the nearest whole percent 2018 2017 Sales $25,000 $60,000 2016 $50,000 2015 $70,000 MacBook Air