The following table represents portions of the income statements of Brinkerhoff Company for the years 2001–2003:
|
2003 |
2,002 |
$2,001 |
|
|
Gross sales revenue |
$42,000 |
(9) |
$25,800 |
|
Sales discounts |
0 |
100 |
100 |
|
Sales returns |
0 |
200 |
700 |
|
Net sales revenue |
42,000 |
(10) |
(1) |
|
Beginning inventory |
(15) |
8,000 |
(2) |
|
Purchases. |
24,800 |
(11) |
15,000 |
|
Purchases discounts |
700 |
300 |
500 |
|
Freight in |
(16) |
$0 |
$500 |
|
Cost of goods available for |
29,000 |
25,000 |
(3) |
|
Ending inventory |
$3,800 |
(12) |
(4) |
|
Cost of goods sold |
(17) |
(13) |
(5) |
|
Gross margin |
(18) |
14,000 |
(6) |
|
Selling expenses |
4,000 |
(14) |
(7) |
|
General and administrative |
|||
|
expenses. |
(19) |
3,200 |
3,000 |
|
Income before income taxes. |
9,000 |
8,000 |
4,000 |
|
Income taxes |
4,500 |
4,000 |
8 |
|
Net income |
(20) |
4,000 |
2,000 |
Fill in the missing numbers. Assume that gross margin is 40% of net sales revenue.