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Can someone help me to find operating income? = Homework: Chapter 2 Homework Question 12, E2-27A (si... Part 2 of 2 HW Score: 63.6%, 12.72
Can someone help me to find operating income?
= Homework: Chapter 2 Homework Question 12, E2-27A (si... Part 2 of 2 HW Score: 63.6%, 12.72 of 20 points Points: 0.72 of 2 @ Save John Potter is the sole proprietor of Pampered Pups, a business specializing in the sale of high-end pet gifts and accessories. Pampered Pups' sales totaled $1,060,000 during the most recent year. During the year, the company spent $51,000 on expenses relating to website maintenance, 531,300 on marketing, and $28,500 on wrapping, boxing, and shipping the goods to customers. Pampered Pups also spent $643.000 on inventory purchases and an additional 522,000 on freight-in charges. The company started the year with $17,350 of inventory on hand and ended the year with $16,000 of inventory. Prepare Pampered Pups income statement for the most recent year. $ Cost of Goods Sold For Current Year Beginning inventory Plus: Purchases and freight-in Cost of goods available for sale Less: Ending inventory 17,350 665.000 682.350 16.000 $ Cost of goods sold 666.350 Prepare Pampered Pups'income statement for the most recent year. Pampered Pups Income Statement For Current Year Sales revenues 1060000 666350 393650 Less: Cost of goods sold Gross profit Less: Operating expenses Website expenses Marketing expenses Freight-out expenses 51000 31300 28500 110800 Operating income Help Me Solve This Video Get More Help Clear All CheckStep by Step Solution
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