Question

equirements 1. Supply the missing income statement amounts for each of the companies 2. Propare the income statement for Gerald Company for the year ended December 31,2016 Use the cost-of goods sold model to compute coot of goods sold Geralds operating and other expenses for the year were 538 000 I Requirement 1. Supply the missing inceme statement amounts for each of the companies Beginning NetEnding Cost of Gross Company Net Sales Inventory Purchases Ieventory Goods Sold Profit 26,000 s 58,000$ 21,000 $ 63,000 $ 45.000 45,000 108.000 Gerald Evans Franklin Thomas 93,000 95,000 .000,-. 23,000 7,000 140,000 34,000 91,000 31,00059000 24,000 33 000 7.003800 000 8,000 12.000