How to fill put the income statement and what to calculate to fill it out...
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Accounting
How to fill put the income statement and what to calculate to fill it out
1. Supply the missing income statement amounts for each of the companies. 2. Prepare the income statement for Sutherland Company for the year ended December 31, 2021. Use the cost-of-goods-sold model to compute cost of goods sold. Sutherland's operating and other expenses for the year were $36,000. Ignore income tax. Requirement 1. Supply the missing income statement amounts for each of the companies. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline Company & & et Sales & BeginningInventory & NetPurchases & EndingInventory & CostofGoodsSold & GrossProfit \\ \hline Sutherland & $ & 100,000$ & 20,000$ & 59,000$ & 16,000 & (a) & (b) \\ \hline Crossen & & 125,000 & 28,000 & (c) & 45,000 & (d) & 52,000 \\ \hline Williams & & (e) & (f) & 52,000 & 20,000 & 60,000 & 36,000 \\ \hline Scott & & 88,000 & 7,000 & 29,000 & (g) & 33,000 & (h) \\ \hline \end{tabular}
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