Presented below are the components in Gates Company”s income statement. Determine the missing amounts.
|
Sales Revenue |
Cost of Goods Sold |
Gross Profit |
Operating Expenses |
Net Income |
|
|
a |
$75,000 |
? |
$30,000 |
? |
$10,800 |
|
b |
$108,000 |
$70,000 |
? |
? |
$29,500 |
|
c |
? |
$83,900 |
$79,600 |
$39,500 |
? |
Compute missing amounts in determining net income.