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A list of accounts and their values are given below. From this information, prepare an income statement. Accounts Receivable $275,000 Advertising Expenses 54,000 Cash 260,000
A list of accounts and their values are given below. From this information, prepare an income statement.
| Accounts Receivable | $275,000 | |
| Advertising Expenses | 54,000 | |
| Cash | 260,000 | |
| DepreciationFactory Equipment | 16,800 | |
| DepreciationOffice Equipment | 2,400 | |
| Direct Labor | 42,000 | |
| Factory Supplies Used | 16,800 | |
| Factory Utilities | 10,200 | |
| Finished Goods Inventory, November 30 | 68,800 | |
| Finished Goods Inventory, October 31 | 72,550 | |
| Indirect Labor | 48,000 | |
| Office Supplies Expense | 1,600 | |
| Other Administrative Expenses | 72,000 | |
| Prepaid Expenses | 42,150 | |
| Raw Materials Inventory, November 30 | 52,700 | |
| Raw Materials Inventory, October 31 | 38,000 | |
| Raw Materials Purchases | 184,500 | |
| RentFactory Equipment | 47,000 | |
| RepairsFactory Equipment | 4,500 | |
| Salaries | 325,000 | |
| Sales | 1,350,000 | |
| Sales Commissions | 40,500 | |
| Work In Process Inventory October 31 | 52,700 | |
| Work In Process Inventory, November 30 | 42,000 |
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