Question

The following are the components in oriole company's income statement.

determine the missing amounts.
sales revenue
cost of goods sold
gross profit
operating expenses
(a)
$80,200
$
$33,000
$
$
(b)
$111,400
$78,900
$
$
(c)
$
$80,100
$85,200
$47,

Answer 1

To determine the missing amounts in the income statement of Oriole Company, we can use the following relationships:

Gross Profit = Sales Revenue - Cost of Goods Sold Operating Expenses = Gross Profit - Operating Income

Here are the completed income statements:

(a) Sales Revenue: $80,200 Cost of Goods Sold: $47,200 Gross Profit: $33,000 Operating Expenses: Not enough information to determine

(b) Sales Revenue: $111,400 Cost of Goods Sold: $78,900 Gross Profit: $32,500 Operating Expenses: Not enough information to determine

© Sales Revenue: Not enough information to determine Cost of Goods Sold: $80,100 Gross Profit: $85,200 Operating Expenses: Not enough information to determine