(22) Two items are omitted in each of the following four lists of income statement data....
(22) Two items are omitted in each of the following four lists of income statement data. Determine the amounts of the missing items, identifying them by letter.
| sales | $463,400 | (b) | $1,295,000 | (d) |
| cost of merchandise | (a) | 410,000 | (c) | 900,000 |
| gross profit | 83,500 | $277,500 | 275,000 | 600,000 |
Homework Answers
Sales-Cost of goods sold = gross profit
a. $379,900 ($463,400-$83,500)
b. $687,500($410,000+$277,500)
c. $1,020,000($1,295,000-$275,000)
d. $1,500,000($900,000+$600,000)
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