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Selected accounts from the December 3 1 , Year 1 , adjusted trial balance of the Howard Company are shown below. Debit Credit Inventory, January
Selected accounts from the December Year adjusted trial balance of the Howard Company are shown below.
Debit
Credit
Inventory, January Year $
Sales Revenue $
Sales returns and allowances
Purchases
FreightIn
Selling Expenses
Administrative Expenses
Bad Debt Expense
Depreciation Expense: Building
Interest Expense
Income Tax Expense
Dividends
On December Year the inventory was $
Required:
Prepare a Year income statement for Howard Company.
Accounts
Administrative expenses
Bad debt expense
Depreciation expense: building
Freightin
Income tax expense
Interest expense
Inventory, Year
Inventory, Year
Purchases
Sales returns and allowances
Sales revenue
Selling expenses
Labels
December Year
For Year Ended December Year
Operating expenses
Amount Descriptions
Cost of goods available for sale
Cost of goods sold
Gross profit on sales
Income before income taxes
Income from operations
Net income
Net loss
Net sales
Total operating expenses
Prepare a Year income statement for Howard Company.
Income Statement Instructions
Howard Company
Income Statement
For Year Ended December Year
cost of goods sold
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