E3-15B (Missing Amounts) Presented below is financial information for two different companies.
Hirsch Company Ho Company
Sales $30,000 (d)
Sales returns (a) $ 1,600
Net sales 27,000 31,600
Cost of goods sold 18,600 (e)
Gross profit (b) 12,600
Operating expenses 5,000 7,600
Net income (c) 5,000
Instructions
Compute the missing amounts.
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