Supply the Missing Dollar Amounts for the 20X2 Statement of Earnings

Essay

Supply the missing dollar amounts for the 20X2 statement of earnings of RDS Company by writing your answer in the table provided for you for each of the following independent cases. Show your computations below the table. $\begin{array}{|l|r|r|}\hline&\text { Case A }&\text { Case B }\\\hline \text { Sales revenue } & \$ 8,000&\$6,000 \\\hline \text { Sales returns \& allowances } & 150&? \\\hline \text { Net sales revenue } & ?&?\\\hline \text { Beginning inventory } & 11,000&6,500 \\\hline \text { Purchases } &5,000&? \\\hline \text { Transportation-in } &?&120 \\\hline \text { Purchase returns } & 350&600 \\\hline \text { Goods available for sale } &?&14,790 \\\hline \text { Ending inventory } &10,000&10,470 \\\hline \text { Cost of goods sold } &?&?\\\hline \text { Gross margin } &?&1,450 \\\hline \text { Expenses } & 1,300&? \\\hline \text { Pre-tax profit } & \$800&\$(500) \\\hline\end{array}$