Question: On a separate spreadsheet, do the following. Make sure the right amount is shown on the excel spreadsheet. Given the following data, complete the income

On a separate spreadsheet, do the following. Make sure the right amount is shown on the excel spreadsheet.

  1. Given the following data, complete the income statement using the following information:

Gross sales: $25,283

Returns and allowances: $492

Cost of beginning inventory: $5,384

Cost of purchases: $18,923

Cost of ending inventory: $5,557

Total operating expense: $3,750

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