Write a paragraph explaining the income statement and the
balance sheet, write how the company is doing, and anything to note
or watch for. Note any differences from the previous quarter's
balance sheet.
Supplies Company
Budgeted Income Statement
For the Quarter Ended September 30th
Sales
1,985,000
Cost of Goods Sold
(893,250)
Gross Margin
1,091,750
Selling and Administrative Expenses
Shipping
99,250
Other
158,800
Salaries and Wages
255,000
Advertising
150,000
Prepaid Insurance
9,000
Depreciation
75,000
Net Operating Incomes
747,050
Less Interest Expense...