E3-15B (Missing Amounts) Presented below is financial information for two different companies….

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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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