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Need completed Income Statement Exercise 4-15 Preparing a multiple-step income statement LO P4 Fit-for-Life Foods reports the following income statement accounts for the year ended
Need completed Income Statement
Exercise 4-15 Preparing a multiple-step income statement LO P4 Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales staff wages $ 6,290 750 1,210 215,000 31,500 11,300 22,300 Depreciation expense-Office copier Sales discounts Sales returns and allowances TV advertising expense Interest revenue Cost of goods sold Sales commission expense 550 15,000 4,100 4,000 790 91,900 12,300 INet sales $ 215,000 Less: Sales discounts $ 15,000 4,100 Less: Sales returns and allowances 19,100 Net sales 195,900 91,900 104,000 Cost of goods sold Gross profit Expenses Selling expenses TV advertising expense Sales commission expense Sales staff wages Rent expenseSelling space 0 Total selling expenses General and administrative expenses Total general and administrative expenses 0 Total expenses 0 104,000 Other revenues, gains, expenses & losses Other revenues, gains, expenses & losses Total other revenues, gains, expenses & losses 0Step by Step Solution
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