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The adjusted trial balance of Cullumber Company shows these data pertaining to sales at the end of its fiscal year, October 31, 2017: Sales Revenue

The adjusted trial balance of Cullumber Company shows these data pertaining to sales at the end of its fiscal year, October 31, 2017: Sales Revenue $906,700; Freight-Out $14,200; Sales Returns and Allowances $19,500; and Sales Discounts $14,000. Prepare the sales section of the income statement.

CULLUMBER COMPANY Income Statement (Partial)

For the Month Ended October 31, 2017For the Year Ended October 31, 2017October 31, 2017

Total ExpensesRetained Earnings, November 1, 2016Total RevenuesDividendsExpensesRetained Earnings, October 31, 2017Net SalesSalesNet Income / (Loss)

$

AddLess

:

$

Retained Earnings, October 31, 2017SalesRetained Earnings, November 1, 2016ExpensesTotal RevenuesTotal ExpensesNet SalesNet Income / (Loss)Dividends

$

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