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DR At the beginning of the current season on April 1, the ledger of Oosthuizen Pro Shop, NV showed Cash 16,000; Inventory 47,000; and Share

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DR At the beginning of the current season on April 1, the ledger of Oosthuizen Pro Shop, NV showed Cash 16,000; Inventory 47,000; and Share Capital-Ordinary 63,000. Oosthuizen Pro Shop Trial Balance As on April 30, 2019 CR Sales Revenue 1,250,000 Sales Returns and Allowances 28,000 Sales Discount 22,500 Freight-In 26,500 Purchases 965,000 Purchase Discounts 27,400 Purchase Returns and Allowances 24,600 Freight-out 24,500 Salary expenses 24,000 Rent expenses 18,000 Supplies expenses 7,000 Interest expenses 6,000 Additional facts: 1. Merchandise inventory on April 30, 2019, is 63,600. 2. Oosthuizen Pro Shop uses a periodic system. Instructions: Prepare an income statement through gross profit for the year ended April 30, 2019. DR At the beginning of the current season on April 1, the ledger of Oosthuizen Pro Shop, NV showed Cash 16,000; Inventory 47,000; and Share Capital-Ordinary 63,000. Oosthuizen Pro Shop Trial Balance As on April 30, 2019 CR Sales Revenue 1,250,000 Sales Returns and Allowances 28,000 Sales Discount 22,500 Freight-In 26,500 Purchases 965,000 Purchase Discounts 27,400 Purchase Returns and Allowances 24,600 Freight-out 24,500 Salary expenses 24,000 Rent expenses 18,000 Supplies expenses 7,000 Interest expenses 6,000 Additional facts: 1. Merchandise inventory on April 30, 2019, is 63,600. 2. Oosthuizen Pro Shop uses a periodic system. Instructions: Prepare an income statement through gross profit for the year ended April 30, 2019

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