Financial information is presented below for three different companies. Instruct

Question

Financial information is presented below for three different companies. Instructions (a) Determine the missing amounts. (Enter all amounts as positive amounts and subtract where necessary.) Natural Cosmetics Mattar Grocery Allied Wholesalers Sales $90,119 (e) $ $157,532 Sales returns and allowances (a) 5,037 12,133 Net sales 85,385 98,458 (i) Cost of goods sold 56,418 (f) (j) Gross profit (b) 39,249 24,146 Operating expenses 15,503 (g) 18,133 Income from operations (c) (h) (k) Other expenses and losses 3,172 7,358 (l) Net income (d) 12,676 4,594

Explanation / Answer

(a) 90119-85385 = 4734 (b) 85385-56418 = 28967 (c) 28967-15503 = 13464 (d) 13464-3172 = 10292 (e) 5037+98458 = 103495 (f) 98458-39249 = 59209 (h) 12676+7358 = 20034 (g) 39249-20034 = 19215 (i) 157532-12133 = 145399 (j) 145399-24146 = 121253 (k) 24146-18133 = 6013 (l) 6013-4594 = 1419

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