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Look at the picture and TYPE it up the exact same WAREN SPORTS SUPPLY STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER
Look at the picture and TYPE it up the exact same
WAREN SPORTS SUPPLY STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2013 REVENUE Sales Less: Sales returns and allowances Sales discounts taken COST OF GOODS SOLD Beginning inventory 101,681.00 Net purchases 1,096,859.60 Freight-in 24,642.69 Goods available for sale 1,223,183.29 Less: Ending inventory Cost of goods sold GROSS MARGIN OPERATING EXPENSES Rent expense 57,600.00 Advertising expense 21,905.00 Office supplies expense 5621.45 Depreciation expense 35,109.50 Wages and salaries 141,198.14 Payroll taxes 11,528 80 Bad debt expense 3,780.14 Other operating expense 29,287.75 Total operating expenses OTHER INCOME Miscellaneous income OTHEREXPENSE -Interest expense INCOME BEFORE TAXES FEDERAL INCOME TAXES NET INCOME RETAINED EARNINGS -Beginning of year RETAINED EARNINGS End of year $1,588,571.00 61,111.00 15,405.82 1,512,054.18 487,166.89 306,030.78 181,136.11 197.26 181,763.85 52,184 129,578.86 90,264.99 $219,843.85Step by Step Solution
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