Fill in the blanks in the following separate income statements a through e. Identify any negative amount by putting it in parentheses.
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $42,500
Cost of goods sold
Merchandise inventory (beginning) . . . . . . . . . . 17,050
Total cost of merchandise purchases . . . . . . . ?
Merchandise inventory (ending) . . . . . . . . . . . . (2,700)
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . 15,900
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . ? Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,650
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . $15,950