Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Fitness City Income Statement Month Ending April 30 Sales Revenue 195,795.00 Sales Discounts 650.00 Rent Revenue 2,031.70 Net Sales 193,113.30 Cost of Goods Sold 118,113.00
Fitness City | |
Income Statement | |
Month Ending April 30 | |
Sales Revenue | 195,795.00 |
Sales Discounts | 650.00 |
Rent Revenue | 2,031.70 |
Net Sales | 193,113.30 |
Cost of Goods Sold | 118,113.00 |
Gross Profit | 75,000.30 |
Sales Salaries Expense | 17,200.00 |
Advertising Expense | 500.00 |
Store Supplies | 2,700.00 |
Miscellaneous Selling | 1,273.00 |
Office Salaries | 10,500.00 |
Depreciation Equip | 450.00 |
Insurance Expense | 400.00 |
Office Supplies | 1,200.00 |
Deprecitation Bldg | 1,100.00 |
Miscellaneous Admin | 1,109.00 |
Total | 36,432.00 |
Operating Income | 38,568.30 |
Rent Revenue | 1,500.00 |
Interest Revenue | 90.00 |
Interest Expense | 700.00 |
Other Income Total | 890.00 |
Net Income | 39,458.30 |
Need help filling out a Schedule C form 1040 from this income statement
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started