Installment Basis versus Point of Sale Revenue Recognition The Apollo Company ha catalogue based rate The following describes Apollo's operation Year 1 Year account 1.700.000 $300.000 Cachorum On art 20.000 10.000 D Can purch methand invento Wench 1000 11000 114000 and baren Open experts che han 12.000 300 Required 1. Prepare an income statement for each year assuming that Apolo recognite reverse in the point of sal method and assuming that all operating expenses are paid inch friend Required 1. Prepare an income statement for each year assuming that Apollo recopres revenue in the point of sale method and assuming that all operating expenses are padin selber as positive numbers Yeart Hermes ws 2006 Le Cost of the 60.000 Ada Purchases 240.000 try 4000 Cocu Good 120.000 10 11400 La Dot DOO 44000 turto 0.0001 2. Prepare an income statement for each year numing that Apollo recognise ting the installment method and assume that all operating expenses are padis cash freuersas positive number SODE OD Revenue 31 Les Coul of good Go Less Opening espers come 8 SE 10 WS Installment Basis versus Point of Sale Revenue Recognition The Apollo Company ha catalogue based rate The following describes Apollo's operation Year 1 Year account 1.700.000 $300.000 Cachorum On art 20.000 10.000 D Can purch methand invento Wench 1000 11000 114000 and baren Open experts che han 12.000 300 Required 1. Prepare an income statement for each year assuming that Apolo recognite reverse in the point of sal method and assuming that all operating expenses are paid inch friend Required 1. Prepare an income statement for each year assuming that Apollo recopres revenue in the point of sale method and assuming that all operating expenses are padin selber as positive numbers Yeart Hermes ws 2006 Le Cost of the 60.000 Ada Purchases 240.000 try 4000 Cocu Good 120.000 10 11400 La Dot DOO 44000 turto 0.0001 2. Prepare an income statement for each year numing that Apollo recognise ting the installment method and assume that all operating expenses are padis cash freuersas positive number SODE OD Revenue 31 Les Coul of good Go Less Opening espers come 8 SE 10 WS