A Portion of the Statement of Earnings for Tea Company

Essay

A portion of the statement of earnings for Tea Company is shown below. Provide the missing account titles and amounts. $$\begin{array} { | l | l | l | r | r | } \hline \text { A. } &\underline{\quad\quad}&&{ \$ 110,000 } & \\\hline \text { B. }& \text { Sales returns and allowances } & &\underline{\quad\quad} & \\\hline \text { C. } & \underline{\quad\quad}& & & \$ 100,000 \\\hline \text { D. } &\underline{\quad\quad}& & &\underline{\quad\quad} \\\hline & \text { Gross Margin } & & & \$25,000\\\hline\end{array}$$