Consider the following partially completed income statements for merchandising companies and compute the missing amounts:...
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Consider the following partially completed income statements for merchandising companies and compute the missing amounts: (Click the icon to view the Income Statements) Allen, Inc. Smith, Inc. 101,000 29,000 Net Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory Purchases and Freight In Cost of Goods Available for Sale Ending Merchandise Inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income 13,200 50,000 63,200 (2,200) 61,000 40,000 28,000 89,000 (2,200) 114,000 84,000 0 Data Table 12.000 Net Sales Revenue Cost of Gande Sala 29.000 89.000 12.200) 114,000 34000 Data Table Allen, Inc. Smith, Inc. 101,000 s $ Id 29,000 (e) 50.000 Net Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory Purchases and Freight in Cost of Goods Available for Sale Ending Merchandise Inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses (b) (2,200) 89.000 (2.200) 61,000 40,000 114,000 84.000 12,000 Operating Income Print Done Clear All
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