Question

State the missing items. (For sales revenue enter answers in alphabetical order.) Gross profit - Operating...

State the missing items. (For sales revenue enter answers in alphabetical order.) Gross profit - Operating expenses = 1. Cost

State the missing items. (For sales revenue enter answers in alphabetical order.) Gross profit - Operating expenses = 1. Cost of goods sold + Gross profit = 2. Sales revenue - = Net sales 3. Income from operations + = Net income 4. Net sales - Cost of goods sold = 5.
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Answer #1

1. Gross profit - Operating expenses = Income from operation.

2. Cost of goods sold + gross profit = Net Sales

3. Sales revenue - Sales discount - Sales return and allowance = Net sales.

4. Income from operation + Other revenue - Other expenses = Net Income.

5. Net Sales - Cost of goods sold = Gross profit.

Format-

Sales
Less: Sales discount
Less: Sales return and allowance
Net sales
Less: cost of goods sold
Gross profit
Less: Operating expenses
Income from Operations
Add: Other revenue
Less: Other expenses
Net income.

****************

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Answer #2

ANSWER “


1. Gross profit - Operating expenses = EBIT 


2. Cost of goods sold + Gross profit = Net Sales


3. Sales revenue - Sales discount  - Returns and allowances = Net sales


4. Income from operation + Other revenue - other expenses = Net income.


5. Net sales - Cost of goods sold = Gross profit 

answered by: Tulsiram Garg
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