Transactions (January 1 - March 31, 20x1)\ \\\\table[[Description,Amount,Comment],[Product Purchased,

$49,200

,2,600 tops and 1,500 pants],[Receipts from sales,

$105,000

,4,200 units at average cost of

$12

each],[Advertising /Promotion,

$12,000

,increased promotion],[Payroll Expense,

$25,000

,includes taxes and benefits],[Other Expense,

$10,000

,includes

$1,000

in shrinkage],[Loan Payment,

$1,000

,principal reduction]]\ Show the income statement for the quarter. You will need to calculate tax at

30%

.\ \\\\table[[Sample Store Income Statement],[Quarter Ended March 31, 20x1,],[Revenue,

$154200

,],[Cost of Goods Sold (4,200x $12),

$50400

,],[Gross Margin,,],[Advertising/Promotion,,],[Payroll Expense,,]]\ Vavis

Transactions (January 1 - March 31, 20x1) Show the income statement for the quarter. You will need to calculate tax at 30%