Home Entertainment, a retailer of CDs and DVDs, provided the following information for the month of...

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Home Entertainment, a retailer of CDs and DVDs, provided the following information for the month of June: Sales $150,000 Selling expenses 40,000 Administrative expenses 25,000 Merchandise inventory, beginning balance 12,000 Merchandise inventory, ending balance 22,000 Merchandise purchases 90,000 Required: Prepare an income statement for the company for the month. Cost of goods sold: Income Statement For the month ended xxx Selling and administrative expenses: 0 0 0 0 $ 0 E Home Entertainment, a retailer of CDs and DVDs, provided the following information for the month of June: Sales $150,000 Selling expenses 40,000 Administrative expenses 25,000 Merchandise inventory, beginning balance 12,000 Merchandise inventory, ending balance 22,000 Merchandise purchases 90,000 Required: Prepare an income statement for the company for the month. Cost of goods sold: Income Statement For the month ended xxx Selling and administrative expenses: 0 0 0 0 $ 0 E