A journal entry and income statement is needed for these questions.

 

1. Job 123 Elm is completed by month end and the sale is closed for a price of $51,250 2. Job 706 Maple is completed by month end but remains in inventory at the end of September. 3. Job 101 Main Street remains in process at month end 4. Selling, General and Administrative Expenses for September total $11,121 5. The income tax rate is 21%. There are no differences between book and taxable income.