Problem: Presented below is a financial information for two different companies
|
|
|
Amoruso Company |
|
Tamburri Company |
| Sales |
|
|
$90,000 |
|
|
(d) |
|
| Sales return |
|
(a) |
|
|
$5,000 |
|
| Net Sales |
|
83,000 |
|
|
95,000 |
|
| Cost of goods sold |
|
56,000 |
|
|
(e) |
|
| Gross profit |
|
(b) |
|
|
38,000 |
|
| Operating expenses |
15,000 |
|
|
(f) |
|
| Net Income |
|
(c ) |
|
|
15,000 |
|
Instructions:
Determine the missing amounts.