North Corp Income Statement For the year orded December 31, 2014 X X Not sales X1 Gross profit from saloo Operating expenses Seling expenses Totalling expenses General and administre expenses X Balance Sheet and Income Statement of Statement Changes in Equity Debit Credit Accumulated Depreciation Office Fixtures Debit Credit Accumulated Depreciation Store Fumiture 22,500 39,000 Cost Of Goods Sold 136,000 Depreciation Expense, Office Fixtures 7,000 Depreciation Expense, Store Furniture 13.500 Dividends 24,000 Insurance Expense 15,500 Liabilities 57.000 Merchandise Inventory 100.000 Office Fixtures 104,500 Office Supplies Expense 58.500 Rent expense, office space 75,500 Rent expense, selling space 138,500 Rent revenue 185.000 176,500 Retained Earnings Sales 279.000 Sales Discounts 22.500 26,500 Sales Returns and Allowances 184.000 Share Capital 105 000 Store Furniture 50,000 Store Supplies Expense 543 500 464.000 399.500 479,000 Totals 79.500 79.500 Net Loss 543.500 543.500 479.000 479.000 Totals Total general and administrative expenses Total operating expenses X Other revenues and expenses ING 2150 15 12.2001 10C