Oppong Corporation Income Statement For the year ended December 31, 2014 X14 Net sales X Gross profit from sales Operating expenses Seling expenses x Total saling expenses General and administrative expenses Balance Sheerand Income Statement of Statement Changes in Equity Accumulated Depreciation Office Equipment Debit Credit Deb Credit Accumulated Depreciation Office Furniture 14,000 Cost Of Goods Sold 60,000 55,000 Depreciation Expense, Office Equipment 7.000 Depreciation Expense, Office Furniture 14,000 Dividends 11,500 Insurance Expense 22,000 Liabilities 496,500 Merchandise Inventory 165.000 Office Equipment 117.000 Office Furniture 472.000 Office Salaries Expense 45,500 Office Supplies Expense 74.500 Rent revenue 131,000 Retained Earnings 146,000 127,500 Sales 5.500 Sales Discounts 2.500 Sales Retums and Allowanoos 61,500 Sales Salaries Expense 128 000 Share Capital Store Supplies Expense 337,500 258.500 765,500 814,500 Totals 79,000 79.000 Net Loss 337,500 337,500 844,500 844,500 Totals Total general and administrative expenses Total operating expenses Other revenues and expenses 50,000 ENG 161