Slick Corporation has summarized financial statements as shown below. Fill in the blank areas to complete the financial statements. Begin in 2012 and move forward from there.
Definitions:
Operating Expenses
The costs associated with running the day-to-day operations of a business, excluding the cost of goods sold.
Gross Profit
The difference between revenue and the cost of goods sold, indicating how efficiently a company produces goods or services.
Cost of Goods Sold
Represents the direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used to create the product.
Ending Inventory
The total value of all inventory a company has in stock at the end of its fiscal period.
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