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please display each requirement into Excel P5-45B Requirement 1 GRADE A BEEF COMPANY Income Statement Quarter Ended September 30, 2018 $ 294,000 900 $ 294,900
please display each requirement into Excel
P5-45B Requirement 1 GRADE A BEEF COMPANY Income Statement Quarter Ended September 30, 2018 $ 294,000 900 $ 294,900 Revenues: Net Sales Revenue Interest Revenue Total Revenues Expenses: Cost of Goods Sold Rent Expense (Selling) Utilities Expense (Selling) Delivery Expense (Selling) Salaries Expense (Selling) Salaries Expense (Administrative) Depreciation Expense-Equipment (Administrative) Utilities Expense (Administrative) Rent Expense (Administrative) Interest Expense Total Expenses Net Income 161,700 16,700 10,900 3,100 5,000 2,500 1,310 4,500 7,400 2,300 215,410 $ 79,490 P5-45B, cont. Requirement 2 GRADE A BEEF COMPANY Income Statement Quarter Ended September 30, 2018 $ 294,000 161,700 132,300 $ 16,700 5,000 10,900 3,100 35,700 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses: Rent Expense Salaries Expense Utilities Expense Delivery Expense Total Selling Expenses Administrative Expenses: Depreciation Expense-Equipment Salaries Expense Utilities Expense Rent Expense Total Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses): Interest Revenue Interest Expense Total Other Income and (Expenses) Net Income 1,310 2,500 4,500 7,400 15,710 51,410 80,890 900 (2,300) (1.400) $ 79,490 Requirement 3 Grade A Beef Company did not achieve the goal of a gross profit percentage of 50%; it was only 45% Net Sales Revenue Less: Cost of Goods Sold Gross Profit $ 294,000 161,700 $ 132.300 Gross profit percentage - $132,300/S294,000 - 45% Step by Step Solution
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