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Fill in the missing amounts.

Sunland Company Monty Corp.
Sales revenue $92,000 _______$
Sales returns and allowances _______ 5,200
Net sales 86,000 108,000
Cost of goods sold 55,900 _______
Gross profit ________ 41,040
Operating expenses 13,760 ______
Net income _______ 21,600

Respuesta :

ajeigbeibraheem

Answer:

Explanation:

Monty Corp:

[tex]\text{Sales revenue - Net sales = Sales returns and allowance}[/tex]

[tex]\text{Net sales - Cost of goods sold = Gross profit}[/tex]

[tex]\text{Gross profit - Operating expenses = Net income}[/tex]

Sunland company:

[tex]\text{Net sales + Sales return and allowance = Sales revenue}[/tex]

[tex]\text{Net sales - Gross profit = Cost of goods sold}[/tex]

[tex]\text{Gross profit - Net income = Operating expenses}[/tex]

                                                 Monty Corp           Sunland Company

Sales revenue                         $92000                   $103200

Sales return and allowances   $6000                   $5200

Net sales                                  $86000                  $108000

Cost of goods sold                  $55900                   $66960

Gross profit                               $30100                   $41040

Operating expense                 $13760                      $19440            

Net income                                $16340                   $21600

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