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Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Amount $1,024,000 Total sales revenue Selling price per
Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Amount $1,024,000 Total sales revenue Selling price per snowboard Variable selling expense per snowboard Variable administrative expense per snowboard Total fixed selling expense Total fixed administrative expense Merchandise inventory, beginning balance. Merchandise inventory, ending balance Merchandise purchases Winter Leisure Required: 1. Prepare a traditional income statement for the quarter ended December 31. Traditional Income Statement Quarter ended December 31 250 40 10 Selling and administrative expenses: $ $ $ $ 220,000 $ 190,000 92,000 $ 112,000 $ 356,000
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