ACC225 Calculating revenue, cost of sales, expenses and income (loss). Fill in the blanks in the following separate income statements.Identify any negative amount by putting it in (parantheses).

Calculating revenue, cost of sales, expenses and income (loss).  

Fill in the blanks in the following separate income statements.Identify any negative amount by putting it in (parentheses).  

Business Name

              Mark's, Corp.Phoenix Co.Mike's BikesCal's Cars       Don's Dogs

          Income StatementIncome StatementIncome StatementIncome Statement     Income Statement

          For the Year EndedFor the Month EndedFor the Quarter Ended For the Year EndedFor the Month Ended

             April 30 2012April 30 2012April 30 2012April 30 2012April 30 2012

Sales       85,000            80,000      25,000                              18,000 

Cost of Sales

Beginning Inventory 10,000      34,100              3,750               7,000        2,600 

Purchases 30,000                                 32,000        8,000 

Goods Available for Sale                                                              

Ending Inventory     (5,400)           (4,500)            (6,600)      

Cost of Goods Sold 35,000 31,800                                                         5,600 

Gross Profit                                        1,875             45,600        

Operating Expenses 9,000 21,300     6,075              2,600       10,000 

Net Income        26,900    (4,200)           43,000