Two items are omitted in each of the following four lists of income statement data. Determine the amounts of the missing items, identifying them by letter.
|
Sales |
$400,000 |
$500,000 |
$1,000,000 |
$ (g) |
|
Sales returns and allowances |
(a) |
15,000 |
(e) |
30,500 |
|
Sales discounts |
20,000 |
8,000 |
40,000 |
37,000 |
|
Net sales |
350,000 |
(c) |
910,000 |
(h) |
|
Cost of merchandise sold |
(b) |
285,000 |
(f) |
540,000 |
|
Gross profit |
200,000 |
(d) |
286,500 |
150,000 |