Question

Missing Income Statement Amounts

For each of the following cases, fill in the blank with the appropriate dollar amount.

	Sara's Coffee Shop			Amy's Deli			Jane's Bagels
Net sales	$41,100			$			$90,400
Cost of goods sold				29,200
Gross profit	8,200			44,800
Selling expenses	3,500						10,400
General and administrative expenses	1,700			7,200
Total operating expenses				22,000			18,500
Net income	$3,000			$22,800			$26,700

Answer 1

Solution

	Sara's Coffee Shop	Amy's Deli	Jane's Bagels
Net sales	$ 41,100.00	$ 74,000.00	$ 90,400.00
Cost of goods sold	$ 32,900.00	$ 29,200.00	$ 45,200.00
Gross profit	$    8,200.00	$ 44,800.00	$ 45,200.00
Selling expenses	$    3,500.00	$ 14,800.00	$ 10,400.00
General and administrative expenses	$    1,700.00	$    7,200.00	$    8,100.00
Total operating expenses	$    5,200.00	$ 22,000.00	$ 18,500.00
Net income	$    3,000.00	$ 22,800.00	$ 26,700.00