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Jewelry 4 U makes necklaces them in their retail store. Prepare a traditional income statement below based on the following data. Revenue: Quantity of necklaces
Jewelry 4 U makes necklaces them in their retail store. Prepare a traditional income statement below based on the following data. Revenue: Quantity of necklaces sold 400 necklaces sold Average sale price of necklace $ 50 per necklace Cost of Goods Sold $ 11 per necklace Selling Expenses: Advertising $ 1,500 per month Sales salaries and commissions 900 per month, plus 4% of sales Delivery of necklaces to customers 8 per necklace Store Rent 900 per month Depreciation of sales equipment 600 per month Administrative Expenses: Office salaries $ 4,000 per month Employee benefits 600 per month Clerical 800 per month, plus $6 por necklace Depreciation of office equipment 900 per month Jewelry 4 U Traditional Income Statement For the month ended December 31 Sales Cost of goods sold Gross profit Selling expenses Advertising Sales salaries commissions Delivery of necklace Store Ron Depreciation of salesment
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