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LO6 Forms of the Income, Statement The July 31, 20x3, year-end income statement accounts that follow are for Inge Roboti- Company. Beginning merchandise inventory
LO6 Forms of the Income, Statement The July 31, 20x3, year-end income statement accounts that follow are for Inge Roboti- Company. Beginning merchandise inventory was $172,800 and ending merchandi inventory is $145,000. Inge Robotics Company is a sole proprietorship. Sales Account Name Sales Returns and Allowances Purchases Purchases Returns and Allowances Freight In Sales Salaries Expense Debit Credit $922,200 $ 53,800 449,000 23,840 34,800 124,320 Sales Supplies Expense 3,280 Rent Expense, Selling Space 14,400 Utilities Expense, Selling Space 5,920 Advertising Expense 33,600 Depreciation Expense, Delivery Equipment 8,800 Office Salaries Expense 58,480 Office Supplies Expense 19,520 Rent Expense, Office Space 4,800 Utilities Expense, Office Space 2,000 Postage Expense 4,640 Insurance Expense 5,360 Miscellaneous Expense 2,880 General Management Salaries Expense 84,000 Interest Expense 11,200 Interest Income 840 REQUIRED From the information provided, prepare the following: 1. A detailed income statement. 2 Acondensed Income statement-in-multistep form. 3. A condensed income statement-in-single-step form.
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