Presented below is financial information for two different companies.
|
|
Lee Company
|
Chan Company
|
|
Sales
|
$90,000
|
(d)
|
|
Sales returns
|
(a)
|
$ 5,000
|
|
Net sales
|
81,000
|
95,000
|
|
Cost of goods sold
|
56,000
|
(e)
|
|
Gross profit
|
(b)
|
41,500
|
|
Operating expenses
|
15,000
|
(f)
|
|
Net income
|
(c)
|
15,000
|
Instructions
Determine the missing amounts.