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two items are omitted in each of the following four lists of income statement data d 541775

Determining amounts for items omitted from income statement

Two items are omitted in each of the following four lists of income statement data. Determine the amounts of the missing items, identifying them by letter.

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Sales

$525,000

$733,000

$1,440,000

$ (g)

Sales returns and allowances

(a)

28,000

(e)

85,000

Sales discounts

41,350

17,500

100,000

65,000

Net sales

463,400

(c)

1,295,000

(h)

Cost of merchandise sold

(b)

410,000

(f )

900,000

Gross profit

83,500

(d)

275,000

600,000

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