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Income Statement for a Merchandiser Solve for the missing amounts corresponding to the letters in the...

Income Statement for a Merchandiser

Solve for the missing amounts corresponding to the letters in the following income statement for Carpenters Department Store Inc.

Net sales $122,500
Cost of goods sold:
Beginning inventory $23,950
Net purchases $(a)
Transportation-in 6,410
Cost of goods purchased 80,180
Cost of goods available for sale $104,130
Ending inventory (c)
Cost of goods sold (b)
Gross profit $39,200
Operating expenses (d)
Income before tax $26,660
Income tax expense 9,330
Net income $(e)
Item Amount
a. Net purchases $
b. Cost of goods sold $
c. Ending inventory $
d. Operating expenses $
e. Net income $
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