E 15 Presented below is financial information for two different companies.
|
Shabbona Company |
Jenkins Company |
|
|
Sales revenue |
$90,000 |
(d) |
|
Sales returns and allowances |
(a) |
$5,000 |
|
Net sales |
85,000 |
90,000 |
|
Cost of goods sold |
56,000 |
(e) |
|
Gross profi t |
(b) |
38,000 |
|
Operating expenses |
15,000 |
23,000 |
|
Net income |
(c) |
15,000 |
Instructions
Compute the missing amounts.