Requirement 2. Prepare an income statement for Denim Bones for the year ended December 31, 2024.

(For accounts with a $0 balance, make sure to enter "0" in the appropriate column.)

Data table

Other information:
Direct materials purchases	$31,000
Plant janitorial services	100
Sales salaries	5,200
Delivery costs	1,700
Net sales revenue	112,000
Utilities for plant	1,100
Rent on plant	11,000
Customer service hotline costs	1,500
Direct labor	25,000

Data table

Balances:	Beginning	Ending
Direct Materials	$13,300	$10,000
Work-in-Process Inventory	0	4,000
Finished Goods Inventory	0	5,600

Denim Bones
Income Statement
Year Ended December 31, 2024
Revenue:
	Net Sales Revenue		$112,000
Cost of Goods Sold:
	Cost of Goods Manufactured	$67,500
	Cost of Goods Available for Sale
Cost of Goods Sold
Gross Profit
Selling and Administrative Expenses:
	Sales Salaries Expense	5,200
	Delivery Expense	1,700
	Customer Service Hotline Expense	1,500
Total Selling and Administrative Expenses			8,400
Operating Income