Calculate the missing amounts. Sales Cost of goods sold Gross profit Operating expenses Income from operations Other income Other expenses Income before income tax Income tax expense Net income $ Ivanhoe Ltd. $88,100 59,027 19,500 780 0 2,424 Ivanhoe Ltée $100,100 40,040 18,000 0 2,200 $13,013

Calculate the missing amounts. Sales Cost of goods sold Gross profit Operating expenses Income from operations Other income Other expenses Income before income tax Income tax expense Net income $ Ivanhoe Ltd. $88,100 59,027 19,500 780 0 2,424 Ivanhoe Ltée $100,100 40,040 18,000 0 2,200 $13,013

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...

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Question

100%

Statement of income information is presented here for two companies:
(a)
Calculate the missing amounts.
Sales
Cost of goods sold
Gross profit
Operating expenses
Income from operations
Other income
Other expenses
Income before income tax
Income tax expense
Net income
LA
Ivanhoe Ltd.
$88,100
59,027
19,500
780
O
2,424
Ivanhoe Ltée
$100,100
40,040
18,000
0
2,200
$13,013

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