Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated by a minus sign.) a b c d e
Sales $ 66,000 $ 43,600 $ 53,000 27,000
Cost of goods sold
Merchandise inventory (beginning) 8,000 16,660 5400 7200 4500
Total cost of merchandise purchases 35000 4240 28000 6600
Merchandise inventory (ending) 9140 2900 8300 7600
Cost of goods sold 33860 18000 27600 7800
Gross profit 32140 25600 3400 41,100 19,200
Expenses 19000 19800 10410 4600 7300
Net income (loss) $13140 $14800 $7010 $36500

Prepare the operating activities section—indirect method.(lo 4), apthe income statement of paxson company is presented here.paxson companyincome statementfor the year ended november 30, 2014sales revenue $7,600,000cost of goods sold beginning inventory$1,900,000 purchases4,400,000goods available for sale6,300,000 ending inventory1,600,000total cost of goods sold 4,700,000gross profit 2,900,000operating expenses selling expenses450,000 administrative expenses700,0001,150,000net income $1,750,000additional information: prepare the operating activities section—indirect 1. accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.2. prepaid expenses increased $150,000 during the year.3. accounts payable to suppliers of merchandise decreased $350,000 during the year.4. accrued expenses payable decreased $100,000 during the year.5. administrative expenses include depreciation expense of $110,000.instructionsprepare the operating activities section of the statement of cash flows for the year ended november 30, 2014, for paxson company, using the indirect method.net cash provided $1,940,000