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! Required information [ The following information applies to the questions displayed below. ] Big Tommy Corporation is a local grocery store organized seven years

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Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format):
\table[[,\table[[BIG TOMMY CORPORATION],[Profit and Loss],[December 31]],],[Net Sales,Debit,Credit],[Cost of Goods Sold,$255,000,],[Salaries and Wages Expense,535,700,],[Office Expense,11,500,],[Travel Expenses,1,000,],[Income Tax Expense,11,160,],[Net Profit,26,040,],[Totals,$356,700,$356,700
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