current attempt in progress\npresented here are the components in blossom companys income statement…

current attempt in progress\npresented here are the components in blossom companys income statement. determine the missing amounts.\n| goods sold | gross profit | operating expenses | net income |\n| ---- | ---- | ---- | ---- |\n| 41000 (a) | $30,000 | $ (b) | $10,810 |\n| $70,100 | $ (c) | $3800 (d) | $29,510 |\n| $71,900 | $109,610 | $46,210 | $ (f) |\n etextbook and media

current attempt in progress\npresented here are the components in blossom companys income statement. determine the missing amounts.\n| goods sold | gross profit | operating expenses | net income |\n| ---- | ---- | ---- | ---- |\n| 41000 (a) | $30,000 | $ (b) | $10,810 |\n| $70,100 | $ (c) | $3800 (d) | $29,510 |\n| $71,900 | $109,610 | $46,210 | $ (f) |\n etextbook and media

Answer

Explanation:

Step1: Recall income - statement formula

Net Income = Gross Profit - Operating Expenses

Step2: Calculate (a) - Operating Expenses for first row

Operating Expenses = Gross Profit - Net Income. So, for the first row, (a) = $30000 - 10810=$19190$

Step3: Calculate (c) - Gross Profit for second row

Using the formula Net Income = Gross Profit - Operating Expenses, we can re - arrange it to Gross Profit = Net Income+Operating Expenses. So, (c) = $29510 + 3800=$33310$

Step4: Calculate (f) - Net Income for third row

Net Income = Gross Profit - Operating Expenses. So, (f) = $109610-46210=$63400$

Answer:

(a) $19190 (c) $33310 (f) $63400