Sales Sales Revenue Less : Sales Returns and Allowances Sales Discounts Net Sales Cost of Goods Sold Gross Profit Operating Expenses Freight-Out Advertising Expense Salaries and Wages Expense Utilities Expense Depreciation Expense Total Operating Expenses Income From Operations Other Revenues and Gains Interest Revenue Other Expenses and Losses Interest Expense Net Income /(Loss) $ $ 51,000 10,000 2,400 15,600 83,000 24,000 3,300 $ 631,000 2843 61,000 570,000 410,400 159,600 128,300 31,300 21,600 24,400

Sales Sales Revenue Less : Sales Returns and Allowances Sales Discounts Net Sales Cost of Goods Sold Gross Profit Operating Expenses Freight-Out Advertising Expense Salaries and Wages Expense Utilities Expense Depreciation Expense Total Operating Expenses Income From Operations Other Revenues and Gains Interest Revenue Other Expenses and Losses Interest Expense Net Income /(Loss) $ $ 51,000 10,000 2,400 15,600 83,000 24,000 3,300 $ 631,000 2843 61,000 570,000 410,400 159,600 128,300 31,300 21,600 24,400

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...

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