Fill in the Blanks (A)through (G)for the Morrison Company for Each

Fill in the blanks (a)through (g)for the Morrison Company for each of the income statements for years 1,2,and 3. $\begin{array}{c}\text { Morrison Company}\\\text { Income Statements}\\\text { For the vears ended December 31}\\\begin{array}{|l|r|r|r|}\hline &\text { Year 2 } & \text { Year 2 } & \text { Year 3 } \\\hline \text { Sales } & \$ 7,500 & \$ 10,000 & \text { (f) } \\\hline \text { Cost of goods sold } & & & \\\hline \text { Merchandise inventory (beginning) } & \text { (a) } & 375 & 750 \\\hline \text { Total cost of merchandise purchases } & 2,400 & 3,625 & 4,875 \\\hline \text { Merchandise inventory (ending) } & (\mathrm{b}) & 750 & 625 \\\hline \text { Cost of goods sold } & 2,770 & (\mathrm{~d}) & 5,000 \\\hline \text { Gross profit } & (\mathrm{c}) & 6,750 & 5,200 \\\hline \text { Operating expenses } & 3,750 & 3,750 & (\mathrm{~g}) \\\hline \text { Net income } & \$ 980 & (\mathrm{e}) & \$ 2,500 \\\hline\end{array}\end{array}$