Angler Company is a manufacturer of toys.Its controller, Joyce Rotzen, resigned in August.An inexperienced assistant accountant has prepared the following income statement for the month of August (utilice el ao que esta tomando el curso)

ANGLER COMPANY

Income Statement

For the Month Ended August

Sales (net) $ 675,000

Less: Operating expenses

Raw materials purchases$ 200,000

Direct labor cost 160,000

Advertising expense75,000

Selling and administrative salaries70,000

Rent on factory facilities60,000

Depreciation on sales equipment50,000

Depreciation on factory equipment35,000

Indirect labor cost20,000

Utilities factory10,000

Insurance factory5,000685,000

Net loss $(10,000)