Complete the following data taken from the condensed income statements for merchandising Companies A, B, and C. Company A Company B Company C
Net income $335 $175
Sales 895 530
Gross profit 400 325
Operating expenses 50
Cost of goods sold 570 350

Condensed income statements

Company                     A            B            C

Sales                          $970     $895       $530

Cost of goods sold   $570     $350       $205

Gross profit               $400     $565       $325

Operating expenses $65       $50         $150

Net income               $335       $515        $175

Explanation:

Company                     A            B            C

Net income               $335         ?           $175

Sales                            ?          $895       $530

Gross profit               $400        ?            $325

Operating expenses   ?          $50            ?

Cost of goods sold   $570     $350          ?

Condensed income statements

Company                               A            B            C

Sales                                    $970     $895       $530

Less: Cost of goods sold   $570     $350       $205

Gross profit                         $400     $565       $325

Less: Operating expenses $65       $50         $150

Net income                          $335       $515      $175

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