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Compute the purchases and the net income

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Question - The following data are availale for Cut Throat Products, a partnership:

Year

Sales

Beginning Inventory

Ending Inventory

Operating Expenses

2003

$93,600

$16,000

$24,000

$8,000

2004

$93,600

$16,000

$24,000

$18,000

2005

$93,600

$16,000

$24,000

$12,000

Compute the purchases and the net income for the partnership for 2013,2014, and 2015, assuming that the firm sell its merchndise at 25 percent above cost.

Reference no: EM132083291

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