Question
Organic Footwear, Inc. Pre-Closing Trial Balance 31-Dec-17 Accounts Debit Credit Cash 281,500 Short-term Investments 256,250 Security Deposit 1,500 Supplies 750 Inventory 8,400 Utilities Payable 1,000
Organic Footwear, Inc. Pre-Closing Trial Balance 31-Dec-17 Accounts Debit Credit Cash 281,500 Short-term Investments 256,250 Security Deposit 1,500 Supplies 750 Inventory 8,400 Utilities Payable 1,000 Income Taxes Payable 3,000 Common Stock 500,000 Retained Earnings - Sales Revenue 375,000 Gain on investments 6,250 Cost of Goods Sold 150,000 Salaries & Wages Expense 65,000 Advertising Expense 45,000 Office Rent Expense 18,000 Utilities Expense 12,000 Payroll Taxes 9,750 Insurance Expense 8,000 Office Equipment Rent Expense 6,000 Amazon Selling Fees 6,000 Supplies Expense 5,000 Miscellaneous Expense 1,000 Income Tax Expense 11,100 885,250 885,250 From this table: how the amount for sales revenue, gain on investment, cost of goods sold, and income tax expenses is calculated?
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