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cosider ther following partially completed income statements for merchandising compamies and compute the missing amounts.
laura's bakery fit apparel
net sales revenue 99,000 (d)
cost of goods sold:
beginning merchandising inventory (a) 29,000
purchase and freight in 47,000 (e)
cost of goods available for sale (b) 92,000
ending merchandise inventory (1900) (1900)
cost of goods sold 60,000 (f)
gross profit 39,000 113,000
selling and administrative expenses (c) 86,000
operating income 15,000 (g)
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