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Paradise Island Pharmaceuticals purchased costing 75,000.00 for the current month. It paid 2,000.00 for freight (transportation) for the shipment of the goods from the seller
Paradise Island Pharmaceuticals purchased costing 75,000.00 for the current month. It paid 2,000.00 for freight (transportation) for the shipment of the goods from the seller to its store. It sold 85% of the merchandise for 180,000.00. For the current month, it incurred the following expenses:
Delivery Expense 8,000
General Administrative Expense 14,000
Miscellaneous Expense 23,000
Utilities Expense 10,000
Prepare the income statement of the Paradise Island Pharmaceuticals for the current month.
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