Presented below is financial information for two different companies
E-15 Presented below is financial information for two different companies.
Shabbona Company
Jenkins Company
Sales revenue
$90,000
(d)
Sales returns and allowances
(a)
$5,000
Net sales
85,000
90,000
Cost of goods sold
56,000
(e)
Gross profi t
(b)
38,000
Operating expenses
15,000
23,000
Net income
(c)
15,000
Instructions
Compute the missing amounts.
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