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

Question 146

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Fill in the blanks (a)through (g)for the Hendricks Company for each of the income statements for 2012,2013,and 2014.
 HENDRICKS COMPANY Income Statements  For the Years Ended December 31201220132014 Sales $7,500$10,000 (f)  Cost of goods sold  Merchandise inventory (beginning) (a)375750 Total cost of merchandise purchases 2,4003,6254,875 Merchandise inventory (ending) (b)750625 Cost of goods sold 2,770( d)5,000 Gross profit (c)6,7505,200 Operating expenses 3,7503,750( g) Net income $980(e)$2,500\begin{array}{c}\text { HENDRICKS COMPANY}\\\text { Income Statements }\\\text { For the Years Ended December 31}\\\begin{array}{|l|r|r|r|}\hline &2012 & 2013 & 2014 \\\hline \text { Sales } & \$ 7,500 & \$ 10,000 & \text { (f) } \\\hline \text { Cost of goods sold } & & & \\\hline \text { Merchandise inventory (beginning) } & (\mathrm{a}) & 375 & 750 \\\hline \text { Total cost of merchandise purchases } & 2,400 & 3,625 & 4,875 \\\hline \text { Merchandise inventory (ending) } & (\mathrm{b}) & \underline{750} & \underline{625} \\\hline \text { Cost of goods sold } & \underline{2,770} & (\mathrm{~d}) & \underline{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}

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