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Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense
Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense 20 Rent expense-Selling space Sales salaries expense $ 6,290 Depreciation expense-Office copier 770 Sales discounts 1,250 Sales returns and allowances 219,000 TV advertising expense 31,200 Interest revenue 10,300 Cost of goods sold 22,100 Sales commission expense Prepare a multiple-step income statement. FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 Expenses Selling expenses Total selling expenses General and administrative expenses 0 0 0 0 Total general and administrative expenses 0 $ 550 15,800 4,000 4,000 730 91,000 14,000
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