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make an income statement for the following information BIG TOMMY CORPORATION Profit and Loss December 31 Debit Credit Sales $ 610,000 Cost of Goods Sold
make an income statement for the following information
BIG TOMMY CORPORATION Profit and Loss December 31
| Debit | Credit | |||
| Sales | $ | 610,000 | ||
| Cost of Goods Sold | $ | 351,000 | ||
| Sales Returns and Allowances | 17,200 | |||
| Sales Discounts | 10,500 | |||
| Salaries and Wages Expense | 76,000 | |||
| Office Expense | 29,500 | |||
| Travel Expenses | 1,000 | |||
| Income Tax Expense | 37,440 | |||
| Net Profit | 87,360 | |||
| Totals | $ | 610,000 | $ | 610,000 |
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