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Presented below is information for Cullumber Co. for the month of January 2022. Cost of goods sold $33,900 $201,500 6,300 Rent expense Sales discounts Freight-out
Presented below is information for Cullumber Co. for the month of January 2022. Cost of goods sold $33,900 $201,500 6,300 Rent expense Sales discounts Freight-out 10,000 Insurance expense 13,400 Sales returns and allowances 17,000 Salaries and wages expense 61,200 Sales revenue 400,000 Income tax expense 5,300 Other comprehensive income (net of $400 tax) 2,000 Income Statement For the Month Ended January 31, 2022 - Sales Sales Revenue 400,000 400,000 Less : Sales Returns and Allowances 17,000 i Sales Discounts 10,000 27,000 i Net Sales 373,000 Cost of Goods Sold 201,500 Gross Profit 171,500 Operating Expenses Salaries and Wages Expense 61,200 i Rent Expense 33,900 Insurance Expense 13,400 i Freight-Out 6,300 i Total Operating Expenses 114,800 i Income Before Income Taxes 56,700 Income Tax Expense 5,300 i Net Income /(Loss) 51,400 Prepare a comprehensive income statement. CULLUMBER CO. Comprehensive Income Statement
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