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Acme sporting goods averaged sales of $296,000 per month in the year 2016 For the year, COGS was 60% Ten full-time employees were paid an

Acme sporting goods averaged sales of $296,000 per month in the year 2016

For the year, COGS was 60%

Ten full-time employees were paid an average of $45,000

10 part time employees were paid $15 hour. Each worked an average of 22 hours per week

Owner/mgr was paid a salary of $50,000

Taxes and benefits were 25% of payroll

Rent was $5,000 per month

Advertising costs were $175,000

Utilities were $55,000

Accounting and legal fees were $45,000

Construct the income statement, include % column

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