At the end of Bridgeport Department Stores fiscal year on November 30, 2020, these accounts appeared in its adjusted trial balance.

Freight-In		$7,500
Inventory		39,400
Purchases		578,500
Purchase Discounts		6,600
Purchase Returns and Allowances		2,900
Sales Revenue		1,044,700
Sales Returns and Allowances		17,000

Additional facts:

1.		Merchandise inventory on November 30, 2020, is $53,800.
2.		Bridgeport Department Store uses a periodic system.

Prepare an income statement through gross profit for the year ended November 30, 2020. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

BRIDGEPORT DEPARTMENT STORE Income Statement (Partial) choose the accounting period For the Month Ended November 30, 2020For the Year Ended November 30, 2020November 30, 2020
select an opening name for section one DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020SalesTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit
enter an income statement item									$enter a dollar amount
select between addition and deduction LessAdd: enter an income statement item									enter a dollar amount
select a closing name for section one DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit									enter a total amount for section one
select an opening name for section two DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit
select an income statement item DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit							$enter a dollar amount
enter an opening subsection name					$enter a dollar amount
select between addition and deduction AddLess:
enter an income statement item			$enter a dollar amount
enter an income statement item			enter a dollar amount
					enter a subtotal of the two previous amounts
select a closing subsection name DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit					enter a total amount for this subsection
select between addition and deduction AddLess: enter an income statement item					enter a dollar amount
select a summarizing line for this part DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit							enter a subtotal of the two previous amounts
select an income statement item DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit							enter a total amount for the first part
select bewteen addition and deduction LessAdd: select an income statement item DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020Sales RevenueTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit							enter a dollar amount
select a closing name for section two									enter a total amount for section two
select a closing name for this part of the income statement DrawingsExpensesNet Income / (Loss)Inventory, Dec. 1, 2019Inventory, Nov. 30, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesCost of Goods SoldNet PurchasesCost of Goods PurchasedCost of Goods Available for SaleGross Profit									$enter a total amount for this part of the income statement

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