financial information is presented below for three different companies: Athena C

ID: 2378192 • Letter: F

Question

financial information is presented below for three different companies:

Athena Cosmetics Harry Grocery Panama Wholesalers

serivice revenue 90,000 (e) 122,000

sales returns and allowances (a) 5,000 12,000

net sales 86,000 95,000 (i)

cost of goods sold 56,000 (f) (j)

gross profit (b) 22,000 24,000

operating expenses 15,000 (g) 18,000

income from operartions (c) (h) (k)

other expenses and losses 4,000 3.000 (l)

net income (d) 11,000 5,000

Determine the missing amounts

e. Service revenue=95000+5000=100000

a. Sales return= 90000-86000=4000

i. net sale=122000-12000=110000

f. COGS=95000-22000=73000

j. COGS= 110000-24000=86000

b.Gross profit=86000-56000=30000

g. operating expense=22000-14000=8000

h. income=11000+3000=14000

c. income=30000-15000=15000

k. income=24000-18000=6000

L. other exp.=6000-5000=1000

d. net income=15000-4000=11000

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