Inferring Missing Amounts Based on Income Statement Relationships – Supply the missing dollar amounts for the income statement for each of the following independent cases.
|
Case A |
Case B |
Case C |
||
|
Net sales revenue |
$7,500 |
$ ? |
$6,000 |
|
|
Beginning inventory |
$11,200 |
$6,500 |
$4,000 |
|
|
Purchases |
5,000 |
? |
9,500 |
|
|
Goods available for sale |
? |
15,050 |
13,500 |
|
|
Ending inventory |
10,200 |
11,050 |
? |
|
|
Cost of goods sold |
? |
? |
4,500 |
|
|
Gross profit |
? |
1,500 |
? |
|
|
Expenses |
400 |
? |
700 |
|
|
Pretax income |
$1,100 |
($400) |
$800 |