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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