Posted: December 17th, 2015

Presented here are the components in Korinek Company’s income statement.

Presented here are the components in Korinek Company’s income statement. Determine the missing amounts. (Compute missing amounts in determining net income. (SO 1, 4), AP)

Sales Revenue             Cost of Goods sold     Gross Profit     Operating Expenses    Net Income

$71,200                                   (b)                    $30,000                       (d)                   $12,100

$108,000                     $70,000                          (c)                             (e)                    $29,500

(a)                             $71,900                      $109,600         $46,200

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