Assignment # 2 Q1) Jackson Corporation has provided the following for three months of income statements: July August September Sales in Units 500 1000 800 Sales 250,000 500,000 400-000 Less: cost of 125,000 250,000 200,000 goods sold Gross margin 125,000 250,000 200,000 Operating expenses: Advertising 5,000 5,000 5,000 Salaries & 72,500 85,000 80,000 Commissions Depreciation 10,000 10,000 10,000 expense Utilities 12,000 17,000 15,000 expense Total operating 99,500 117,000 110,000 expenses Net Income 25,500 133,000 90,000