Income Statement for the Period:
Description
Amount
Net Sales
$25,000
Cost of Goods Sold
Gross Profit
Operating Expenses
Salaries
$1,800
General Expenses
$550
Sundry Expenses
$250
Rent Received
$810
Coupons
$560
Credit Interest
$380
Total Operating Expenses
Total:
Net Income
Note: The Cost of Goods Sold and Gross Profit figures need to be calculated based on the information provided. Total Operating Expenses and Net Income will also need to be calculated based on the calculations.
