For each company, calculate the missing amount

Question

For each company, calculate the missing amount


Company - Sales - Cost of Goods Sold - Gross Profit - Operating Expenses - Net Income
Lennon       $8,000      -      (a)             -         $4,000          -         $3,000          -        $1,000
Harrison      $9,000    -   $3,000            -           (b)             -        $2,000        -           $4,000
McCartney   $8,000    -   $3,000            -         $5,000         -           (c)            -           $2,000
Starr           $7,000    -   $3,000            -        $5,000          -        $3,000          -             (d)


Find the amounts for:

a) Cost of Goods Sold.

b) Gross Proffit.

c) Operating Expenses.

d) Net Income.

Answer 1

I answered a similar question below.  Based on that one, you can do this yourself using the following rules:

 

Gross Profit = Sales - Cost of Goods Sold

Net Income = Gross Profit - Operating Expenses