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Gill Milton is the sole proprietor of Pampered Paws, an e-tail business specializing in the sale of high-end pet gifts and accessories. Pampered Paws' sales
Gill Milton is the sole proprietor of Pampered Paws, an e-tail business specializing in the sale of high-end pet gifts and accessories. Pampered Paws' sales totalled $999,000 during the most recent year. During the year, the company spent 565,000 on expenses relating to website maintenance: $25,000 on marketing and $32,000 on wrapping, boxing, and shipping the goods to customers. Pampered Paws also spent 5642,000 on inventory purchases and an additional $30,000 on freight-in charges. The company started the year with $26,000 of inventory on hand and ended the year with $24,000 of inventory. Prepare Pampered Paws' income statement for the most recent year. .... Pampered Paws Income Statement For Last Year Sales revenue 999000 Cost of goods sold: Cost of goods sold Cost of goods available for sale Operating expenses: Website expenses Marketing expenses Freight-out expenses Total operating expenses Operating income
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