Presented Below Is a Partially-Completed Income Statement for Waddy Corp

question 104

Essay

Presented below is a partially-completed income statement for Waddy Corp.for 2013.Determine the missing amounts for each letter.
$\begin{array}{ll}\text { Net sales }&\$& \mathbf{A} \\\text { Cost of goods sold: }\\\text { Beginninginventory } & \mathbf{B} \\\text { Net purchases } & 140,000 \\\text { Cost of goods available for sale } & 160,000 \\\text { Ending inventory } & \mathbf{C} \\\text { Cost of goods sold } & 125,000 \\\text { Grossprofit } & 75,000 \\\text { Selling, general \& administrative expenses } & \mathbf{D} \\\text { Operatingincome } & 10,000\end{array}$

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Definitions:

National Labor Relations Act

A foundational United States law that protects the rights of employees to organize, bargain collectively, and engage in other activities concerning their labor rights.

Workers' Compensation

A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment.

Sexual Harassing

Unwanted and inappropriate actions, comments, or conduct of a sexual nature that creates a hostile or offensive work environment.

Social Plan

A strategy or program implemented by a company to mitigate the effects of restructuring, such as layoffs, on employees.