Presented Below Is a Partially Completed Income Statement of Lake

Essay

Presented below is a partially completed income statement of Lake, Inc.for 2016. $\begin{array}{lr}\text { Net Sales } & \$\mathbf{A} \\\text { Cost of Sales: } & \\\text { Beginning Inventory } & \mathbf{B} \\\text { Net Purchases } & \underline{138,193} \\\text { Available for Sale } & 149,315\\\text { Less: Ending Inventory } & \mathbf{C} \\\text { Cost of Sales } & \underline{136,225} \\\text { Gross Profit } &{72,978} \\\text { Selling, General and Administrative Expenses } & \mathbf{D} \\\text { Operating Income }&\underline{\$ 9,083}\\\end{array}$ Using the partially completed income statement for Lake, Inc., determine each of the following for 2016.
A) Net Sales
B) Beginning Inventory
C) Ending Inventory
D) Selling, General and Administrative Expenses