Question

please fill in the blanks and answer it as if yiu are writing the answr in the boxes itself

Synced to Gradebook Mon Feb 17, 2020, 7:10:34 PM America/New York-05.00 Question 4 View Policies Current Attempt in Progress Presented here are the components in Blossom Company's income statement Determine the missing amounts. Sales Revenue Net Income Cost of Goods Sold Gross Profit Operating Expenses $10,810 Year 1 $ 71,000 $ 30,000 $29,510 Year 2 $100,100 $70,100 $109.610 $71.900 $46,210 Year 3 $ eTextbook and Media

Answer 1

Ans:

Year	Sales (i) $	Cost of goods sold (ii) $	Gross profit (i - ii = iii) $	Operating Expenses (iv) $	Net income (iii - iv) $
1	71,000	41,000	30,000	19,190	10,810
Workings:		($71,000-$30,000)		($30,000-$10,810)
2	108,100	70,100	38,000	8,490	29,510
Workings:			($108,100-$70,100)	($38,000-$29,510)
3	181,510	71,900	109,610	46,210	63,400
Workings:	($109,610+$71,900)				($109,610-$46,210)

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