Financial Statements Income Statem Instructions 1 Cash 1,700.00 2,000.00 2 Accounts Receivable 3 Inventory 1,800.00 5,400.00 Equipment Accumulated Depreciation 1,700.00 Accounts Payable 2,400.00 Salaries Payable 300.00 Income Taxes Payable 660.00 Common Stock (400 shares) 10 Retained Earings 3,200.00 1,300.00 11 Dividends 200.00 12 Sales Revenue 8,500.00 13 Cost of Goods Sold 3,900.00 Selling Expenses 15 Administrative Expenses 1,800.00 600.00 15 Income Tax Expense 660.00 11 Totals 18,060,00 18,060.00 neck My Work hent Score: 66.47% Ma Shaced ceis have feedback Income Statement Operating expenses: Selling expenses Administrative expenses $1,800.00 600.00 2,400.00 : Income before income taxes $10,900.00 Income tax expense 660.00 30 Net income 12 Earnings per share (400 shares) $18,060.00 Previous Save and Exit Submit Assignment for Gradi ce Set Score: 68/79 TURTLE COMPANY Income Statement For the Year Ended December 31, 2019 $8,500.00 3,900.00 1 Sales revenue 2 Cost of goods sold Gross profit Operating expenses: Selling expenses $4,600.00 $1,800.00 Administrative expenses 600.00 2,400.00 Income before income taxes $1,200.00 Income tax expense 660.00 10 Net income $840.00 12 Earnings per share (400 shares) $2.10