presented here are the components in Korinek Company\'s income statement. Determine the missing amounts.
Solution
Hi
Treating, below is the complete question. Answer follows
Question:
sales Cost of Goods Sold Gross profit Operating Expenses Net income
a $78,230 _______________ $30,500 ______________ $17,810
b $111,050 $72,250 __________ ______________ $24,090
c __________ $73,610 $83,670 $49,010 __________
Update : Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income
(a) $78,230 $_________ $30,500 $___________ $17,810
(b) $111,050 $72,250 $__________ $___________ $24,090
(c) $_______ $73,610 $83,670 $49,010 $_________
Answer:
(a)
Cost of Goods Sold 47,730 (78,230 - 30,500)
Operating Expenses 12,690 (30,500 - 17,810)
(b)
Gross Profit 38,800 (111,050 - 72,250)
Operating Expenses 14,710 (38,800 - 24,090)
(c)
Sales 157,280 (73,610 + 83,670)
Net Income 34,660 (83,670 - 49,010)
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