(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 |
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)
(22) Two items are omitted in each of the following four lists of income statement data....
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