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Keep getting expenses category incorrect....help Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on
Keep getting expenses category incorrect....help
Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on the pricing level options you chose in Milestone Two. Also, assume that after accounting for weekends and other holidays, there were 20 business days in the first month of operation. For example, if you chose a sales price of $20 per collar, the actual number of collars sold in the month was 33 per day or 33 x 20 = 660 per month. Established Sales Number of Items Sold per Price Day Collars $20 33 $24 28 $28 23 Leashes $22 28 $26 23 $30 18 Harnesses $25 25 $30 22 $35 20 The other costs incurred by the business include: General and administrative salaries Receptionist: $1,950 Office supplies: $200 Other business equipment: $150 Collars Leashes Harnesses O Total Revenue: 1 Cost of goods sold 2 Gross profit 3 4 Expenses: 5 General and administrative salaries 5 Office supplies 2 Other business equipment 3 Milestone Three - Income Statement Revenue: D 2 B 4 Total Expenses Net Income/Loss $ 12,880 10,800 14,000 $ $ $ $ 37,680 (28,258) 9,422 6,622.00Step by Step Solution
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