Question
The following account information, in alphabetical order, was taken from the worksheet of Compu-Soft for the month ended November 30, 2023. Adjusted Trial Balance Account
The following account information, in alphabetical order, was taken from the worksheet of Compu-Soft for the month ended November 30, 2023.
| Adjusted Trial Balance |
| Account Debit Credit |
201 | Accounts payable 850 |
106 | Accounts receivable |
166 | Accumulated depreciation, store equipment 1,300 |
101 | Cash 5,600 2,600 |
502 | Cost of goods sold 15,800 |
612 | Depreciation expense, store equipment 130 |
301 | Peter Delta, capital 4.550 |
302 | Peter Delta, withdrawals 5,600 |
406 | Rent revenue 30.500 |
413 | Sales |
415 | Sales discounts 50 |
414 | Sales returns and allowances 820 |
165 | Store equipment 8.200 |
690 | Utilities expense 3.100 |
623 | Wages expense 7.300 |
| Totals 44.900 S 44.900 |
Required:
Prepare a multiple-step income statement for the month ended November 30, 2023.
Analysls component:
Assume that for the month ended October 31, 2023, net sales were $39,000, cost of goods sold was $26,200, and income from operations was $9,000. Calculate the company's gross profit ratlos for October and November. (Do not round Intermediete calculations. Round your final enswers to 2 decimal places.)
| Gross Profit |
|
October |
| % |
November |
| % |
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