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how to find costs of goods sold rm2100

provide me calculation please thankyou so much.

Question @ 30% In January 2010, Carmen Diaz, a recent arrival from Cuba decided to open a small ribbon shop in the Coconut Grove section of Kuala Lumpur, Malaysia. During the month, she puts together a simple business plan, which she took to several relatives whom she believed would be interested in helping her finance the new venture. Two of her cousins agreed to loan the business $10,000 for one year at 6% interest rate. For her part, Carmen agreed to invest $1,000 in the equity of the business. On March 1, 2010 with the help of an uncle who practiced law, Carmen formally incorporated her business, which she named Buttons and Needles". Normally, the uncle would have charged a fee of $600 for handling the legal aspects of a simple incorporation, but since Carmen was a family, he waived the fee. As soon as the new business was incorporated, Carmen opened a bank account and deposited the cousins' $10,000 loan and her $1,000 equity contribution. The same day, she signed an agreement to rent store space for $600 per month, paid on the last day of the month. The agreement was for an 18 month period beginning April 1st. The agreement called for a prepayment of the last two months' rent, which Carmen paid out of the company bank account at the signing. Over the next few weeks, Carmen was actively engaged in getting ready to open the store for business on April 1. Fortunately for Carmen, the previous tenant had left counters and display furniture that Carmen could use at no cost to her. In addition, the landlord agreed to repaint the store at no cost, using colours of Carmen's choice. For her part, Carmen ordered, received and paid for the store's opening inventory of ribbons and ribbon accessories; acquired for free a simple cash register with credit card processing company after paying a refundable deposit; signed service agreements with the local phone and utility companies; ordered and paid for some store supplies, and placed and paid for advertising announcing the store opening in the April 2 edition of local paper. In addition, she bought and paid for a used desktop computer with basic business software already installed to keep track of her business transactions and correspondence. On March 31, before opening for business the next day, Carmen reviewed the activity in the company's bank account. Following the deposit of the loans and equity contribution, the following payments were made. 1. Last 2 months' rent RM1,200 2. Opening merchandise inventory RM3,300 3. Cash register deposit RM250 4. Store supplies RM100 5. April 2 edition advertising RM150 6. Used computer purchase RM2,000 After reviewing her cash transaction records, Carmen prepared a list of Buttons and Needles assets and capital (see Exhibit 1). Exhibit 1 Assets Sources of Capital RM RM RM Cash 4,000 Inventory 3,300 Supplies 100 Prepaid rent 1,200 Prepaid advertising 150 Computer/software 2,000 Cousin's loan 10,000 Cash register deposit 250 Carmen's equity 1,000 11.000 11.000 Carmen eventually decided to expand her business by selling custom designed ribbon table arrangements for weddings and other special events. This decision led to the purchase of a used commercial sewing machine for RM1,800 cash on May 1. Later, at a family gathering, one of Carmen's cousins reminded her that she had promised to send the cousins a financial report covering the fourth month period from March 1 to June 30. The next day, Carmen reviewed the following company's information she had gathered over the last four months. 1. Customer had paid RM7,400 cash for ribbons and accessories but she was still owed RM320 for ribbon arrangements for a large wedding delivered to the customer on June 30. 2. A part time employee had been paid RM1,510 but was still owed RM90 for work performed during the last week of June. 3. Rent for the three month period had been paid in cash att he end of each month, as stipulated in the rental agreement. 4. Inventory replenishments costing RM2,900 had been delivered and paid for by June 30. Carmen estimated June 30 merchandise inventory on hand had cost RM4,100 5. The small opening office supplies inventory was nearly all gone. She estimated supplies costing RM20 had not been used. Carmen believed that the intial three months of business had been profitable, but she was puzzled by the fact that the cash in the company's June 30 bank account was RM3,390 which was less than the April 1 balance of $4,000. - Carmen also was concerned about how she should reflect the following in her financial report: i. No interest had been paid on the cousins' loan. ii. The expenditures made for the desktop computer and its related software and the commercial sewing machine. She believed these expenditures would be beneficial to the business long after June 30. At the time she purchased the commercial sewing machine, Carmen estimated that it would be used for about five years from its May 1 purchase date, when it would then have been replaced. Similarly, on March 31, she had estimated the desktop computer and its software would have been replaced in two years' time. Carmen believed the sewing machine and the computer along with its software would have no resale value at the end of their useful lives. iii. The free legal work performed by her uncle and the free cash register provided by the local credit card charge processor. iv. Carmen had not paid herself a salary or dividends during the four months of operations. If cash was available, she anticipated sometime in July she would pay herself some compensation for the four months spent working in the business. Before starting her business, Carmen had worked RM1,300 a month as a cashier in a local grocery store. Questions i. Report on the profitability (or loss) of Buttons and Needles three months operations through 30 June (10 marks) ii. Explain on the decline of cash in bank during the three month operating period. (5 marks) iii. Prepare a report on the financial condition of the business on June 30, 2010. (10 marks) iv. Provide your opinons on Carmen's first three months of operation. Is it consider "successful