Compute the Missing Amounts That Are Numbered in Parentheses for the Income

Essay

Compute the missing amounts that are numbered in parentheses for the income statement of each independent case. (Hint: Each case need not be calculated in the numerical order of the missing numbers.) $\begin{array}{lrcr}&\text { Case A } & \text { Case B } & \text { Case C } \\\text { Sales revenue } & \$ 800 & \$ 800 & \$(9) \\\text { Beginning inventory } & 100 & (5) & 90 \\\text { Purchases } & 500 & 420 & (10) \\\text { Total goods available } \\\text { for sale }& (1) & (6) & (11)\\\text { Ending inventory } & 150 & 110 & 160 \\\text { Cost of goods sold } & (2) & (7) & 340 \\\text { Gross profit } & (3) & (8) & (12) \\\text { Expenses } & 300 & 400 & 420 \\\text { Net Income } & (4) & (50) & 60\end{array}$