GARCON COMPANY

Income Statement

For Year Ended December $31$

Salesselected answer correct $$195,030$selected answer correct

Cost of goods sold:

Finished goods inventory, beginningselected answer correct $$12,000$selected answer correct

Cost of goods manufacturedselected answer correct $96,680$selected answer correct

not attempted not attempted

Goods available for sale $108,680$

Less: Finished goods inventory, endingselected answer correct $17,650$selected answer correct

Cost of goods sold $91,030$

Gross profitselected answer correct $104,000$

Selling expensesselected answer correct not attempted $50,000$selected answer correct

not attempted not attempted not attempted

not attempted not attempted not attempted

Net incomeselected answer correct $$54,000$