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Presented below is financial information for two different companies.
Lee Company
Chan Company
Sales
$90,000
(d)
Sales returns
(a)
$ 5,000
Net sales
81,000
95,000
Cost of goods sold
56,000
(e)
Gross profit
(b)
41,500
Operating expenses
15,000
(f)
Net income
(c)
Instructions
Determine the missing amounts.
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