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A simple income statement. the following are selected account balances of the Albertson's company as of December 31,2010. Purchases (net)$63,000, merchandise inventory Jan 1,2010 $20,000,
A simple income statement. the following are selected account balances of the Albertson's company as of December 31,2010. Purchases (net)$63,000, merchandise inventory Jan 1,2010 $20,000, gain on sale of equipment$5,000, sales (net)$100,000, operating expenses$22,000 and extraordinary loss $8,000
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