The total purchases of ALMA company are KD 120,000, and purchases return and allowance is 3% of total purchases.
Inventory at the end of the current year is KD 4,000, and inventory from last year is KD 3,000
ALMA compay paid freight-in costs of KD 1,200 & selling costs are 7% of its net sales. The admisnitartive expenses are estimated at KD 8000
ALMA company sold 2,300 units over the year. Its Sales returns are 600 units and sales alowoances amounted to KD 1800
The contribution margin of ALMA company is KD 100 per unit and its contribution margin ratio is 40%. prepare income statement