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Slapshot Company makes ice hockey sticks and sold 16,000 sticks during the month of June at a total cost of $431,000. Each stick sold at
Slapshot Company makes ice hockey sticks and sold 16,000 sticks during the month of June at a total cost of $431,000. Each stick sold at a price of $90. Slapshot also incurred two types of selling costs: commissions equal to 15% of the sales price, and other selling expense of $220,000. Administrative expense totalled $117,000.
Required: I
do an income statement for Slapshot for the month of June.
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