Question

please answer column E

- a $ 66,000 b 44,600 c 47,000 d 93,600 e 25,300 $ $ $ $ Sales Cost of goods sold Merchandise inventory, beginning Total cost of merchandise purchases Merchandise inventory, ending Cost of goods sold Gross profit Expenses Net income (loss) 8,900 39,000 14,000 33,900 32,100 10,000 | $ 16,990 5,910 2,900 20,000 24,600 10,310 14,290 5,900 7,900 4,330 44,700 41,000 5,000 8,200 5,000 42,400 43,900 7,700 4,600 49,700 10,0705,2006,800 $ (5,470) $ 44,500

Answer 1

	a	b	c	d	e
Sales	$66,000	$44,600	$47,000	$93,600	$25,300
Cost of goods sold
Merchandise inventory, beginning	$8,900	$16,990	$5,900	$7,900	$4,330
Total cost of merchnadise puchases	$39,000	$5,910	$44,700	$41,000	$5,000
Merchandise inventory, ending	$14,000	$2,900	$8,200	$5,000	$1,630
Cost of goods sold	$33,900	$20,000	$42,400	$43,900	$7,700
Gross Profit	$32,100	$24,600	$4,600	$49,700	$17,600
Expenses	$10,000	$10,310	$10,070	$5,200	$6,800
Net income (loss)	$22,100	$14,290	-$5,470	$44,500	$10,800
Working
Column a.
Net Income = Gross Profit - Expenses
Column e.
Merchandise inventory, ending = Merchandise inventory, beginning + Total cost of merchnadise puchases - Costs of good sold
Merchandise inventory, ending = $4,330 + $5,000 - $7,700
Merchandise inventory, ending = $1,630
Gross Profit = Sales - Cost of goods sold
Gross Profit = $25,300 - $7,700
Gross Profit = $17,600
Net Income = Gross Profit - Expenses
Net Income = $17,600 - $6,800
Net Income = $10,800