INCOME STATEMENT PERCENTAGES Slapshot Company makes ice hockey sticks and sold 16,000 sticks during the month of June at a total cost of $485,000. Each stick sold at a price of $90. Slapshot also incurred two types of selling costs: commissions equal to 15 percent of the sales price, and other selling expense of $200,000. Administrative expense totaled $115,000.

Required:

Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income statement. Round answers to one decimal place.

Cornerstone Exercise