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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 Sales
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 Rent expense-Selling space Sales staff wages $ 6,150 Depreciation expense-Office copier $ 470 660 Sales discounts 16,700 1,360 Sales returns and allowances 4,000 219,000 TV advertising expense 2,000 32,000 Interest revenue 610 10,900 Cost of goods sold 89, 100 23,900 Sales commission expense 12,700 Prepare a multiple-step income statement. FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 0 0 0 Expenses Selling expenses 0 0 0 Expenses Selling expenses 0 Total selling expenses General and administrative expenses 0 Total general and administrative expenses Total expenses Oo Other revenues, gains, expenses & losses Total other revenues, gains, expenses & losses BE
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