In December, Vollick Corporation had sales of $245,000, selling expenses of $23,000, and administrative expenses of $26,000.

Question:

In December, Vollick Corporation had sales of $245,000, selling expenses of $23,000, and administrative expenses of $26,000. The cost of goods manufactured was $190,000. The beginning balance in the finished goods inventory account was $59,000 and the ending balance was $56,000.

Required:
Prepare an Income Statement in good form for December.

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