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Goldman Sachs Transactions for the Year Ended 30 June 2021 Transaction Amount () Sales revenue 380,000 Cost of goods sold 230,000 Salaries and wages 55,000

Goldman Sachs

Transactions for the Year Ended 30 June 2021

Transaction

Amount (£)

Sales revenue

380,000

Cost of goods sold

230,000

Salaries and wages

55,000

Rent expense

27,000

Depreciation expense

19,000

Marketing expense

14,000

Interest expense

9,000

Requirements:

  1. Prepare an income statement for Goldman Sachs for the year ended 30 June 2021.
  2. Calculate the gross profit and net profit.
  3. Determine the total operating expenses and net earnings.

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