Question 2

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Financial information follows for three different companies:

Determine the missing amounts.

Carla Vista Cosmetics

Flint Grocery

Tamarisk FootwareSales

$240,000

(e) $

enter a dollar amount

$281,000

Sales returns and allowances

(a)

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25,000

20,000

Net sales

219,000

356,000

(i)

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Cost of goods sold

109,000

(f)

enter a dollar amount

(j)

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Gross profit

(b)

enter a dollar amount

210,000

156,000

Operating expenses

50,000

(g)

enter a dollar amount

95,000

Profit from operations

(c)

enter a dollar amount

(h)

enter a dollar amount

(k)

enter a dollar amount

Other expenses

8,000

10,000

(l)

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Profit

(d)

enter a total profit amount

72,000

43,000