A B C D INCOME STATEMENT 24 SALE EXPENSES 25 PUBLICITY SALES DEPARTMENT SALARY 26 27 FACTORY SUPPLIES 28 29 DELIVERY 30 TOTAL SALE EXPENSES 31 ADMINISTRATION EXPENSES INSURANCE 34 OFFICE SUPPLIES 35 15 13 3456 FOR THE YEAR ENDED DECEMBER 31, 2019 16 REVENUE 17 SALES 222222222222233 18 LESS: SALES RETURNS AND ALLOWANCES 19 NET SALES 20 LESS: COST OF GOODS SOLD 21 GROSS PROFIT EXPENSES 1,557,600 $ 21,600 $ 1,536,000 $ 1,144,000 $ 392,000 $ RSLNUG LI ES 12,000 $ 181,600 $ 5,120 $ DEPRECIATION EXPENSE FACTORY EQUIPMENT 3,840 $ 23,680 $ 226,240 $ A ADMINISTRATION DEPARTMENT SALARY 65,600 $ 2,080 $ 2,560 $ DEPRECIATION EXPENSE - OFFICE FURNITURE 480 $ 36 DEPRECIATION EXPENSE - BUILDING 4,560 $ 37 PHONE EXPENSE 3,600 $ 38 TOTAL ADMINISTRATION EXPENSES 78,880 $ T 39 40 41 TOTAL EXPENSES INCOME BEFORE INCOME TAXES 305,120 $ T 86,880 $ 42 LESS: INCOME TAX 34,080 $ L 43 NET INCOME 52,800 $ instruction comparative income statement comparative balance sheet Ready