QS 5-17 Computing missing amounts using income statement relations P4
Compute the missing amounts in the separate (partial) income statements A, B, and C.
Sales
Sales discounts
Sales returns and allowances
Net sales
Cost of goods sold
Gross profit
A
$ ?
1,500
4,000
35,000
?
13,000
B
$20,000
500
?
16,500
14,000
?
C
$90,000
2,000
7,000
?
?
21,000