Income Statement For the year ended INPUT DATE Revenue: Sales Less: Sales Discou
ID: 2350480 • Letter: I
Question
Income Statement
For the year ended INPUT DATE
Revenue:
Sales
Less: Sales Discount
Sales Return and Allowance
Net Sales
Cost of merchandise sold:
Beginning Merchandise inventory
Net Purchases
Plus: Transport in
Cost of delivered merchandise
Less; Purchase discounts
Purchase returns and Allowances
Net purchases
Cost of merchandise available
Less: Closing merchandise inventory
Cost of merchandise sold
Gross Profit on Sales
Operating Expenses:
Advertising Expenses
Insurance Expenses
Bank Card Fees
Maintenance Expenses
Payroll Tax Expenses
Rent Expenses
Salaries Expenses
Supplies Expenses
Utilities Expenses
Total Operating Expenses
Operating Income
Less: Fed. Corp. Inc. Tax. Exp.
Net Income
Revenue:
Sales
Less: Sales Discount
Sales Return and Allowance
Net Sales
Cost of merchandise sold:
Beginning Merchandise inventory
Net Purchases
Plus: Transport in
Cost of delivered merchandise
Less; Purchase discounts
Purchase returns and Allowances
Net purchases
Cost of merchandise available
Less: Closing merchandise inventory
Cost of merchandise sold
Gross Profit on Sales
Operating Expenses:
Advertising Expenses
Insurance Expenses
Bank Card Fees
Maintenance Expenses
Payroll Tax Expenses
Rent Expenses
Salaries Expenses
Supplies Expenses
Utilities Expenses
Total Operating Expenses
Operating Income
Less: Fed. Corp. Inc. Tax. Exp.
Net Income
Explanation / Answer
everything is blank