Supply the missing amounts for each of the following companies:

Requirement
1. Prepare the income statement for Epperson Company for the year ended December 31,
2014. Use the cost-of-goods-sold model to compute cost of goods sold. Epperson€™s operating and other expenses for the year were $72,000. Ignore incometax.

Transcribed Image Text:

Cost of Beginning Inventory Net Purchascs Ending odsGross Profit Company Nct Salcs Inventorv S240,000 $41,000 120,000 $39,000 20,000 Epperson Griffith Norsc Victory 137,000 28,000 (d) 41,000 21,000 60,000 37,000 55,000 33,000 80,000 10,000 (g) 35,000