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Question
Fill in the blanks (a) through (g) for the Hendricks Company for each of the income statements for 2012, 2013, and 2014.
| HENDRICKS COMPANY Income Statements For the Years Ended December 31 | |||
| 2012 | 2013 | 2014 | |
| Sales | $7,500 | $10,000 | (f) |
| Cost of goods sold | |||
| Merchandise inventory (beginning) | (a) | 375 | 750 |
| Total cost of merchandise purchases | 2,400 | 3,625 | 4,875 |
| Merchandise inventory (ending) | (b) | 750 | 625 |
| Cost of goods sold | 2,770 | (d) | 5,000 |
| Gross profit | (c) | 6,750 | 5,200 |
| Operating expenses | 3,750 | 3,750 | (g) |
| Net income | $ 980 | (e) | $ 2,500 |
Answer
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Related questions
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