Textbook Problem

Use the following information for Brief Exercises 2-24 and 2-25:

Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of $65,000. Administrative expense totaled $53,800.

Brief Exercise 2-24 Manufacturing Firm Income Statement

Refer to the information for Slapshot Company on the previous page.

Required:

Prepare an income statement for Slapshot for the month of June.