Question

The first company: preparing the income statement in the short way to the company, and the data is below?

Here is the information for Al-Rafidain Company, which is required to prepare the short-term income statement:

400,000 net sales, 300,000 dividend income, 150,000 rental income, 75,000 consulting revenue, 100,000 cost of goods sold, 35,000 marketing expenses, 30,000 selling expenses, 20,000 administrative expenses, 10,000 maintenance expenses, 10,000 tax expenses

Answer 1

Particulars	Amount
Sales	400000
Cost of goods sold	(100,000)
Gross profit	300,000
Expenses:
Marketing	(35,000)
Selling expenses	(30,000)
Administrative	(20,000)
Maintenance	(10,000)
Taxes	(10,000)
Operating profit	195,000
Other income:
Dividends	300,000
Rents	150,000
Consulting	75,000
Net income	720,000