Financial accounting

I'm lost on how to do calculate revenues, expenses, and income. Can anyone tell me how to do this? I am a student online at Axia. HELP!!!!!!

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asked by Angela
  1. What have you learned about these calculations from your text materials?

    Do you see any examples of these calculations?

    If you can't find this information in your text, please ask your Axia instructor for help. S/he is the best person to direct you.

  2. That is the problem, there is no examples and the instructor(he) says he can not give any examples. Here is what I have to work with
    a b c d
    Sales $60,000 $42,500 $36,000 ?
    Cost of
    goods sold
    Merchandise 6,000 17,050 7,500 7,000
    inventory(begin)
    Total cost
    of purchase36,000 ? ? 32,000
    Mer. invent.
    (ending) ? (2,700)(9,000)(6,600
    Cost of
    goods sold 34,050 15,900 ? ?
    Gross Profit ? ? 3,750 45,600
    Expenses 9,000 10,650 12,150 2,600
    Net income
    (loss) ? $15,950$(8,400)$43,000

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    posted by Angela
  3. If neither your text nor your instructor has given you any examples for calculating these items, then you're faced with a nearly impossible situation. Any good educational program provides examples.

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