This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. (Enter loss amounts as a negative number.) Net Sales Beginning Inventory Net Purchases Ending Inventory Cost of Goods Sold Gross Profit Expenses Profit or (Loss) a. 300,000 76,000 104,000 35,200 155,200 72,000 b. 470,000 77,000 280,000 264,000 20,000 C. 630,000 160,000 180,000 441,000 189,000 140,000 d. 780,000 450,000 135,000 234,000 250,000 e. 156,000 280,000 300,000 130,000 (15,000)