Below are selective account balances of SAMA company on December 31, 2019: 1) Based on ...

Below are selective account balances of SAMA company on December 31, 2019:

1) Based on the data above, Net Purchase is: *
a- $27,000
b- $62,000
c- $23,000
d- $50,000

2) Based on the data above, Cost of Goods Purchased (COGP) is: *
a- $21,500
b- $25,500
c- $55,500
d- $23,500

3) Based on the data above, Cost of Goods Available for Sale (COGAFS) is: *
a- $35,500
b- $27,500
c- $33,500
d- None of the above

4) Based on the data above, Cost of Goods Sold (COGS) is: *
a- $34,000
b- $30,000
c- $36,000
d- $25,000

5) Based on the data above, Net Sales is *
a- $83,000
b- $34,000
c- $71,000
d- $95,000

6) Based on the data above, gross profit is *
a- $54,000
b- $34,000
c- $53,000
d- $41,000

7) Based on the data above, Income from operation is: *
a- $12,000
b- $26,000
c- $22,000
d- $34,000
8) Based on the data above, Other revenues and gains are equal to: *
a- $3200
b- $300
c- $800
d- $500

9) Based on the data above, Other expenses and losses are equal to: *
a- $12,000
b- $9,200
c- $2,250
d- $34,000

10) Based on the data above, Net Income is: *
a- $12,000
b- $26,000
c- $36,800
d- $24,550

11) Freight-in is equal to $500, does it represent *
a- Free on-board shipping point
b- Free on-board destination
c- None of the above