US 5-1 Components of income for a merchandiser LO1 Referring to the format presented in Exhibit 5.2, calculate gross profit and the profit or loss for each of the following. Net sales. Cost of goods sold. Operating expenses....... A B C $14,000 $102,000 $68,000 $540,000 31,000 320,000 8,000 9,000 64,000 31,000 22,000 261,000 D E $398,000 215,000 106,000

SO 3-1Components of income for a merchandiser LO1 Referring to the format presented in Exhibit 5.2, calculate gross profit and the profit or loss for each of the following