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Need help preparing an income statement with the information below. Thanks Income Statement Data for 20XX: Gross Sales= $33,291 Coupons and Discounts = $549 Cost
Need help preparing an income statement with the information below. Thanks
Income Statement Data for 20XX:
Gross Sales= $33,291
Coupons and Discounts = $549
Cost ofGoods=$10,276
Labor = $0 (Mr. and Mr. Lee were the only ones working and did not pay themselves)
advertising fees=$2000
bank fees= $120
phone/internet= $1200
shipping= $1380
utilities= $900
office supplies = $785
Income tax = 26%
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