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Presented Below Is a Partially Completed Income Statement of Lake,Inc

Question 187

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Presented below is a partially completed income statement of Lake,Inc.for 2016.
 Net sales $ACost of goods sold: Beginning inventory  B  Net purchases 138,193 Cost of goods avail able for sale $149,315 Ending inventory  C  Cost of goods sold 136,225 Gross profit $72,978 Selling and administrative expenses D Operating income $9,083\begin{array}{lr}\text { Net sales}& \underline{\text { \$A}}\\\text {Cost of goods sold:}\\\text { Beginning inventory } & \text { B } \\\text { Net purchases } & \underline{138,193} \\\text { Cost of goods avail able for sale } & \$ 149,315 \\\text { Ending inventory } & \text { C } \\\text { Cost of goods sold } & \underline{136,225}\\\text { Gross profit } & \$72,978\\\text { Selling and administrative expenses } & \underline{D}\\\text { Operating income } &\underline{ \$ 9,083}\end{array}
Fill in the missing amounts for Lake's income statement.

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(A)$209,203 ($136,225 + $72,97...

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