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From the following, complete the income statement of Mabola Trading for the month of March 2021 by writing the amounts in the appropriate boxes: Purchases
From the following, complete the income statement of Mabola Trading for the month of March 2021 by writing the amounts in the appropriate boxes: Purchases Inventory, March 1 Sales return & allowances Rent expense-store Salaries expense-store Freight-out Utilities - office Rent income Interest expense P 95,400 Freight-in 1,820 25,250 Purchase discounts 3,060 2,500 Sales discounts 1,550 24,000 Rent expense-office 12,000 28,500 Store supplies 2,375 3,960 Sales 186,300 5,840 Sales commission 3,585 12,000 Advertising expense 3,000 494 Office supplies 2,135 Purchase return & allowance 4,600 Inventory, March 31 32,450 Salaries expense-office Telecommunication-office Net Sales Cost of Goods Sold Net Purchases Goods Available for Sale Gross Profit Operating Expenses Distribution Expenses 12,450 3,575 Mabola Trading Statement of Income For month ended March 31, 2021 General & Administrative Income (Loss) from Operation Other Income Other Expenses Net Profit (Loss) P P P
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