Manufacturing Firm Income Statement Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers and sold 8,000 coffee makers during the month of March at a total cost of $612,500 Each coffee maker sold at a price of $100. Morning Smiles also incurred two types of selling costs: commissions equal to 5% of the sales price and other selling expense of $45,000. Administrative expense totaled $47,500 Required: Prepare an income statement for Morning Smiles for the month of March. Enter all amount as positive number Morning Smiles Coffee Company Income Statement For the Month of March Sales revenue 76.56 X Cost of goods sold 100 X Gross margin Less: Incorrect Selling expense Commissions Other selling expense V :45,000 Administrative expense 47,500 Operating income Feedback Check My Work Review the Income Statement for a Manufacturing Firm example in the text Check My Work Previous Next