eaching m ances Educational Shopping Travel ESPN Fantasy J obs N Netflix V VUDU Resources Basketball in Linked Book Video Calculator Print Item Service Organization Income Statement Instructions Labels and Amount Descriptions Income Statement Concluding Question Instructions Labels and Amount Descriptions Concluding Question Refer to the list below for the exact wording of a label or an amount description within your income statement 2. Complete the statements below that briefly explain why Allstar's income statement has no line item for Cost of Goods Sold Allstar Exposure designs and sells advertising services to small, relatively unknown companies Last month Allstar had sales commissions costs of $50,000, technology costs of 375.000, and research and development costs of $200.000. Selling expenses were $10,000 and administrative expenses equaled $35.000 Sales totaled $410.000 Labels Allstar has no cost of goods sold line item because the company is a Add operating expenses rather than a For the Past Month Less operating expenses As such, Alistar has no Amount Descriptions Required: . Instead costs appear on the income statement Administrative expenses Operating income Prepare an income statement for Allstar for the past month 2. Brefly explain why Allstar's income statement has no line item for Cost of Goods Sold Operating loss Research and development Sales commissions Sales revenue Selling expenses Technology Previous Check My Work All work saved. Save and Exit Submit Assign in HE SO 5 Calculator Print Item loha Labels and Amount Descriptions Concluding Question statement S. ts of earch Labels Add operating expenses For the Past Month 2. Complete the statements below that briefly explain why Allstar's income statement has no line item for Cost of Goods Sold. 1 Allstar has no cost of goods sold line item because the company is a rather than a 0,000 manufacturing concern service provider costs appear on the income statement corporation Less operating expenses Amount Descriptions Administrative expenses Operating income Operating loss Research and development Sales commissions Sales revenue Selling expenses Technology Total selling expenses sole proprietorship Previous Next Concluding Question 2. Complete the statements below that briefly explain why Allstar's income statement has no line item for Cost of Goods Sold. Allstar has no cost of goods sold line item because the company is a rather than a sole proprietorship costs appear on the income statement manufacturer service provider corporation Next Previous Subrnit Assignment for Grading Save and Exat 5:48 PM 2/1/2020 X Concluding Question 2. Complete the statements below that briefly explain why Allstar's income statement has no line item for Cost of Goods Sold. Allstar has no cost of goods sold line item because the company is a rather than a . As such, Allstar has no on the income statement . Instead administrative costs inventory costs operating costs service costs Previous Next Submit Assignment for Gra Save and Exit 5:48 PM El 2/1/2020 ex Concluding Question 2. Complete the statements below that briefly explain why Allstar's income statement has no line item for Cost of Goods Sold. Allstar has no cost of goods sold line item because the company is a rather than a As such, Allstar has no Instead, costs appear on the income statement as manufacturing product Previous Next Save and Exit Submit Assignment for Gradin 5:48 PM 2/1/2020 a ll Concluding Question 2. Complete the statements below that briefly explain why Allstar's income statement has no line item for Cost of Goods Sold Allstar has no cost of goods sold line item because the company is a rather than a As such, Allstar has no costs appear on the income Instead, statement as selling expenses manufacturing expenses operating expenses other expenses Previous Next Subrnit Assignment for Grading Save and Exit 5:49 PM 2/1/2020 ome Statement and Amount Descriptions Concluding Question Income Statement ay Allstar's income eils advertising known companies 1. Prepare an income statement for Allstar for the past month. Refer to the list of Labels and Amount sions costs Descriptions for the exact wording of text items within your income statement. Be sure to complete the statement $75,000, and resea heading 00,000. Selling administrative Allstar Exposure Sales totaled $410,0 Income Statement e company is a e income statement statement for Allstar Allstar's income he item for Cost of Previous Save and Exit Submit Assignment f All work saved. pus come latement els and Amount Descriptions Income Statement Concluding Question Income Statement ny Allstar's income Allstar Exposure sells advertising unknown companies scommissions costs of $75,000, and resea -200,000. Selling nd administrative Sales totaled $410,0 Income Statement (Label) company is a 2 (Label e income statement e statement for Allstar Allstar's income line item for Cost of Previous Save and Exit Submit Assignm All work saved