Pr: Ex 3 Presented below are the amounts in Warren Co. major Income Statement components. Warren uses the perpetual method. Determine the missing amounts. Sales Example 1 $75,000 Example 2 $108,000 Example 3 (e) Cost of Merchandise Sold (CMS) Gross Profit (a) 70,000 71,900 $30,000 (c) $79,600 Operating Expenses Net Income (b) $10,800 (d) 39,500 $29,500 (f) Ex 4 When using the periodic method, a company does not have a CMS account. The company must therefore calculate the CMS in the Income Statement. Fill in the appropriate amounts and $ signs when needed. McAlister Co. Partial Income Statement For the month ending Feb. 28, 20X1 Juno Co. Sales $12,500 Partial Income Statement For the month ending Feb. 28, 20x1 $62,900 Beginning Inventory $150 $4,400 Purchases $6,600 $43,590 Purchase Returns & Allow. $40 $1,500 Purchase Discounts 20 60 (9) (g) Net Purchases (a) $41,090 Freight-In Cost of merchandise purchases Cost of Merch. Available for Sale Ending Inventory Cost of Merchandise Sold 130 (h) (b) $6,820 310 3,600 (c) Gross Profit (d) (k) 43,300