Questions
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...

Budgeted Income Statement and Supporting Budgets

The budget director of Birds of a Feather Inc., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for January:

Estimated sales for January:

  Bird house 6,000 units at $55 per unit
  Bird feeder 4,500 units at $75 per unit

Estimated inventories at January 1:

Direct materials:
  Wood 220 ft.
  Plastic 250 lbs.
Finished products:
  Bird house 300 units at $23 per unit
  Bird feeder 240 units at $34 per unit

Desired inventories at January 31:

Direct materials:
  Wood 180 ft.
  Plastic 210 lbs.
Finished products:
  Bird house 340 units at $23 per unit
  Bird feeder 200 units at $34 per unit

Direct materials used in production:

In manufacture of Bird House:
  Wood 0.80 ft. per unit of product
  Plastic 0.50 lb. per unit of product
In manufacture of Bird Feeder:
  Wood 1.20 ft. per unit of product
  Plastic 0.75 lb. per unit of product

Anticipated cost of purchases and beginning and ending inventory of direct materials:

  Wood $8.00 per ft.
  Plastic $1.20 per lb.

Direct labor requirements:

Bird House:
  Fabrication Department 0.20 hr. at $15 per hr.
  Assembly Department 0.30 hr. at $12 per hr.
Bird Feeder:
  Fabrication Department 0.40 hr. at $15 per hr.
  Assembly Department 0.35 hr. at $12 per hr.

Estimated factory overhead costs for January:

Indirect factory wages $80,000
Depreciation of plant and equipment 25,000
Power and light $8,000
Insurance and property tax 2,000

Estimated operating expenses for January:

Sales salaries expense $90,000
Advertising expense 20,000
Office salaries expense 18,000
Depreciation expense—office equipment 800
Telephone expense—selling 500
Telephone expense—administrative 200
Travel expense—selling 5,000
Office supplies expense 250
Miscellaneous administrative expense 450

Estimated other income and expense for January:

Interest revenue $300
Interest expense 224

Estimated tax rate: 30%

Required:

1. Prepare a sales budget for January.

Birds of a Feather Inc.
Sales Budget
For the Month Ending January 31
Unit Sales
Volume		 Unit Selling
Price		 Total Sales
Bird house
Bird feeder
Total revenue from sales $

2. Prepare a production budget for January.

Birds of a Feather Inc.
Production Budget
For the Month Ending January 31
Units
Bird House Bird Feeder
Expected units to be sold
Plus desired inventory, January 31
  Total
Less estimated inventory, January 1
Total units to be produced

3. Prepare a direct materials purchases budget for January.

Birds of a Feather Inc.
Direct Materials Purchases Budget
For the Month Ending January 31
Wood Plastic Total
Required units for production:
  Bird house
  Bird feeder
Plus desired units of inventory, January 31
Total
Less estimated units of inventory, January 1
Total units to be purchased
Unit price $ $
Total direct materials to be purchased $ $ $

4. Prepare a direct labor cost budget for January.

Birds of a Feather Inc.
Direct Labor Cost Budget
For the Month Ending January 31
Fabrication
Department		 Assembly Department Total
Hours required for production:
Bird house
Bird feeder
Total
Hourly rate $ $
Total direct labor cost $ $ $

5. Prepare a factory overhead cost budget for January.

Birds of a Feather Inc.
Factory Overhead Cost Budget
For the Month Ending January 31
Indirect factory wages
Depreciation of plant and equipment
Power and light
Insurance and property tax
Total $

6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $29,000, and work in process at the end of January is estimated to be $35,400.

Birds of a Feather Inc.
Cost of Goods Sold Budget
For the Month Ending January 31
Finished goods inventory, January 1
Work in process inventory, January 1
Direct materials:
  Direct materials inventory, January 1
  Direct materials purchases
  Cost of direct materials available for use
  Less: Direct materials inventory, January 31
  Cost of direct materials placed in production
Direct labor
Factory overhead
Total manufacturing costs
Total work in process during the period
Less: Work in process inventory, January 31
Cost of goods manufactured
Cost of finished goods available for sale
Less: Finished goods inventory, January 31
Cost of goods sold $

7. Prepare a selling and administrative expenses budget for January.

Birds of a Feather Inc.
Selling and Administrative Expenses Budget
For the Month Ending January 31
Selling expenses:
Sales salaries expense
Advertising expense
Telephone expense—selling
Travel expense—selling
Total selling expenses
Administrative expenses:
Office salaries expense
Depreciation expense—office equipment
Telephone expense—administrative
Office supplies expense
Miscellaneous administrative expense
Total administrative expenses
Total operating expenses $

8. Prepare a budgeted income statement for January.

Birds of a Feather Inc.
Budgeted Income Statement
For the Month Ending January 31
Revenue from sales
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses
Administrative expenses
Total operating expenses
Income from operations
Other income:
Interest revenue
Other expenses:
Interest expense
Income before income tax
Income tax expense (30% rate)
Net income $

In: Accounting

Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...

Budgeted Income Statement and Supporting Budgets

The budget director of Birds of a Feather Inc., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for January:

Estimated sales for January:

  Bird house 6,000 units at $55 per unit
  Bird feeder 4,500 units at $75 per unit

Estimated inventories at January 1:

Direct materials:
  Wood 220 ft.
  Plastic 250 lbs.
Finished products:
  Bird house 300 units at $23 per unit
  Bird feeder 240 units at $34 per unit

Desired inventories at January 31:

Direct materials:
  Wood 180 ft.
  Plastic 210 lbs.
Finished products:
  Bird house 340 units at $23 per unit
  Bird feeder 200 units at $34 per unit

Direct materials used in production:

In manufacture of Bird House:
  Wood 0.80 ft. per unit of product
  Plastic 0.50 lb. per unit of product
In manufacture of Bird Feeder:
  Wood 1.20 ft. per unit of product
  Plastic 0.75 lb. per unit of product

Anticipated cost of purchases and beginning and ending inventory of direct materials:

  Wood $8.00 per ft.
  Plastic $1.20 per lb.

Direct labor requirements:

Bird House:
  Fabrication Department 0.20 hr. at $15 per hr.
  Assembly Department 0.30 hr. at $12 per hr.
Bird Feeder:
  Fabrication Department 0.40 hr. at $15 per hr.
  Assembly Department 0.35 hr. at $12 per hr.

Estimated factory overhead costs for January:

Indirect factory wages $80,000
Depreciation of plant and equipment 25,000
Power and light $8,000
Insurance and property tax 2,000

Estimated operating expenses for January:

Sales salaries expense $90,000
Advertising expense 20,000
Office salaries expense 18,000
Depreciation expense—office equipment 800
Telephone expense—selling 500
Telephone expense—administrative 200
Travel expense—selling 5,000
Office supplies expense 250
Miscellaneous administrative expense 450

Estimated other income and expense for January:

Interest revenue $300
Interest expense 224

Estimated tax rate: 30%

Required:

1. Prepare a sales budget for January.

Birds of a Feather Inc.
Sales Budget
For the Month Ending January 31
Unit Sales
Volume		 Unit Selling
Price		 Total Sales
Bird house
Bird feeder
Total revenue from sales $

2. Prepare a production budget for January.

Birds of a Feather Inc.
Production Budget
For the Month Ending January 31
Units
Bird House Bird Feeder
Expected units to be sold
Plus desired inventory, January 31
  Total
Less estimated inventory, January 1
Total units to be produced

3. Prepare a direct materials purchases budget for January.

Birds of a Feather Inc.
Direct Materials Purchases Budget
For the Month Ending January 31
Wood Plastic Total
Required units for production:
  Bird house
  Bird feeder
Plus desired units of inventory, January 31
Total
Less estimated units of inventory, January 1
Total units to be purchased
Unit price $ $
Total direct materials to be purchased $ $ $

4. Prepare a direct labor cost budget for January.

Birds of a Feather Inc.
Direct Labor Cost Budget
For the Month Ending January 31
Fabrication
Department		 Assembly Department Total
Hours required for production:
Bird house
Bird feeder
Total
Hourly rate $ $
Total direct labor cost $ $ $

5. Prepare a factory overhead cost budget for January.

Birds of a Feather Inc.
Factory Overhead Cost Budget
For the Month Ending January 31
Indirect factory wages
Depreciation of plant and equipment
Power and light
Insurance and property tax
Total $

6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $29,000, and work in process at the end of January is estimated to be $35,400.

Birds of a Feather Inc.
Cost of Goods Sold Budget
For the Month Ending January 31
Finished goods inventory, January 1
Work in process inventory, January 1
Direct materials:
  Direct materials inventory, January 1
  Direct materials purchases
  Cost of direct materials available for use
  Less: Direct materials inventory, January 31
  Cost of direct materials placed in production
Direct labor
Factory overhead
Total manufacturing costs
Total work in process during the period
Less: Work in process inventory, January 31
Cost of goods manufactured
Cost of finished goods available for sale
Less: Finished goods inventory, January 31
Cost of goods sold $

7. Prepare a selling and administrative expenses budget for January.

Birds of a Feather Inc.
Selling and Administrative Expenses Budget
For the Month Ending January 31
Selling expenses:
Sales salaries expense
Advertising expense
Telephone expense—selling
Travel expense—selling
Total selling expenses
Administrative expenses:
Office salaries expense
Depreciation expense—office equipment
Telephone expense—administrative
Office supplies expense
Miscellaneous administrative expense
Total administrative expenses
Total operating expenses $

8. Prepare a budgeted income statement for January.

Birds of a Feather Inc.
Budgeted Income Statement
For the Month Ending January 31
Revenue from sales
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses
Administrative expenses
Total operating expenses
Income from operations
Other income:
Interest revenue
Other expenses:
Interest expense
Income before income tax
Income tax expense (30% rate)
Net income $

In: Accounting

Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...

Budgeted Income Statement and Supporting Budgets

The budget director of Birds of a Feather Inc., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for January:

Estimated sales for January:

  Bird house 6,000 units at $55 per unit
  Bird feeder 4,500 units at $75 per unit

Estimated inventories at January 1:

Direct materials:
  Wood 220 ft.
  Plastic 250 lbs.
Finished products:
  Bird house 300 units at $23 per unit
  Bird feeder 240 units at $34 per unit

Desired inventories at January 31:

Direct materials:
  Wood 180 ft.
  Plastic 210 lbs.
Finished products:
  Bird house 340 units at $23 per unit
  Bird feeder 200 units at $34 per unit

Direct materials used in production:

In manufacture of Bird House:
  Wood 0.80 ft. per unit of product
  Plastic 0.50 lb. per unit of product
In manufacture of Bird Feeder:
  Wood 1.20 ft. per unit of product
  Plastic 0.75 lb. per unit of product

Anticipated cost of purchases and beginning and ending inventory of direct materials:

  Wood $8.00 per ft.
  Plastic $1.20 per lb.

Direct labor requirements:

Bird House:
  Fabrication Department 0.20 hr. at $15 per hr.
  Assembly Department 0.30 hr. at $12 per hr.
Bird Feeder:
  Fabrication Department 0.40 hr. at $15 per hr.
  Assembly Department 0.35 hr. at $12 per hr.

Estimated factory overhead costs for January:

Indirect factory wages $80,000
Depreciation of plant and equipment 25,000
Power and light $8,000
Insurance and property tax 2,000

Estimated operating expenses for January:

Sales salaries expense $90,000
Advertising expense 20,000
Office salaries expense 18,000
Depreciation expense—office equipment 800
Telephone expense—selling 500
Telephone expense—administrative 200
Travel expense—selling 5,000
Office supplies expense 250
Miscellaneous administrative expense 450

Estimated other income and expense for January:

Interest revenue $300
Interest expense 224

Estimated tax rate: 30%

Required:

1. Prepare a sales budget for January.

Birds of a Feather Inc.
Sales Budget
For the Month Ending January 31
Unit Sales
Volume		 Unit Selling
Price		 Total Sales
Bird house
Bird feeder
Total revenue from sales $

2. Prepare a production budget for January.

Birds of a Feather Inc.
Production Budget
For the Month Ending January 31
Units
Bird House Bird Feeder
Expected units to be sold
Plus desired inventory, January 31
  Total
Less estimated inventory, January 1
Total units to be produced

3. Prepare a direct materials purchases budget for January.

Birds of a Feather Inc.
Direct Materials Purchases Budget
For the Month Ending January 31
Wood Plastic Total
Required units for production:
  Bird house
  Bird feeder
Plus desired units of inventory, January 31
Total
Less estimated units of inventory, January 1
Total units to be purchased
Unit price $ $
Total direct materials to be purchased $ $ $

4. Prepare a direct labor cost budget for January.

Birds of a Feather Inc.
Direct Labor Cost Budget
For the Month Ending January 31
Fabrication
Department		 Assembly Department Total
Hours required for production:
Bird house
Bird feeder
Total
Hourly rate $ $
Total direct labor cost $ $ $

5. Prepare a factory overhead cost budget for January.

Birds of a Feather Inc.
Factory Overhead Cost Budget
For the Month Ending January 31
Indirect factory wages
Depreciation of plant and equipment
Power and light
Insurance and property tax
Total $

6. Prepare a cost of goods sold budget for January. Work in process at the beginning of January is estimated to be $29,000, and work in process at the end of January is estimated to be $35,400.

Birds of a Feather Inc.
Cost of Goods Sold Budget
For the Month Ending January 31
Finished goods inventory, January 1
Work in process inventory, January 1
Direct materials:
  Direct materials inventory, January 1
  Direct materials purchases
  Cost of direct materials available for use
  Less: Direct materials inventory, January 31
  Cost of direct materials placed in production
Direct labor
Factory overhead
Total manufacturing costs
Total work in process during the period
Less: Work in process inventory, January 31
Cost of goods manufactured
Cost of finished goods available for sale
Less: Finished goods inventory, January 31
Cost of goods sold $

7. Prepare a selling and administrative expenses budget for January.

Birds of a Feather Inc.
Selling and Administrative Expenses Budget
For the Month Ending January 31
Selling expenses:
Sales salaries expense
Advertising expense
Telephone expense—selling
Travel expense—selling
Total selling expenses
Administrative expenses:
Office salaries expense
Depreciation expense—office equipment
Telephone expense—administrative
Office supplies expense
Miscellaneous administrative expense
Total administrative expenses
Total operating expenses $

8. Prepare a budgeted income statement for January.

Birds of a Feather Inc.
Budgeted Income Statement
For the Month Ending January 31
Revenue from sales
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses
Administrative expenses
Total operating expenses
Income from operations
Other income:
Interest revenue
Other expenses:
Interest expense
Income before income tax
Income tax expense (30% rate)
Net income $

In: Accounting

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information...

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company

The following information is available for Shanika Company for 20Y6:

Inventories January 1 December 31
Materials $427,050 $533,810
Work in process 768,690 725,980
Finished goods 738,800 742,000
Advertising expense $362,460
Depreciation expense-office equipment 51,250
Depreciation expense-factory equipment 68,860
Direct labor 822,070
Heat, light, and power-factory 27,220
Indirect labor 96,090
Materials purchased 806,050
Office salaries expense 281,320
Property taxes-factory 22,420
Property taxes-headquarters building 46,440
Rent expense-factory 37,900
Sales 3,774,040
Sales salaries expense 463,350
Supplies-factory 18,680
Miscellaneous costs-factory 11,740

Required:

1. Prepare the statement of cost of goods manufactured.

Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
$
Direct materials:
$
$
$
Factory overhead:
$
Total factory overhead
Total manufacturing costs incurred
Total manufacturing costs $
Cost of goods manufactured $

2. Prepare the income statement.

Shanika Company
Income Statement
For the Year Ended December 31, 20Y6
$
Cost of goods sold:
$
$
$
Operating expenses:
Administrative expenses:
$
$
Selling expenses:
$
Total operating expenses
$

In: Accounting

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information...

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company

The following information is available for Shanika Company for 20Y6:

Inventories January 1 December 31
Materials $330,810 $410,200
Work in process 595,460 557,870
Finished goods 572,300 570,180
Advertising expense $278,530
Depreciation expense-office equipment 39,380
Depreciation expense-factory equipment 52,920
Direct labor 631,710
Heat, light, and power-factory 20,920
Indirect labor 73,840
Materials purchased 619,400
Office salaries expense 216,180
Property taxes-factory 17,230
Property taxes-headquarters building 35,690
Rent expense-factory 29,120
Sales 2,900,110
Sales salaries expense 356,050
Supplies-factory 14,360
Miscellaneous costs-factory 9,020

Required:

1. Prepare the 20Y6 statement of cost of goods manufactured.

Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
$
Direct materials:
$
$
$
Factory overhead:
$
Total factory overhead
Total manufacturing costs incurred in 20Y6
Total manufacturing costs $
Cost of goods manufactured $

2. Prepare the 20Y6 income statement.

Shanika Company
Income Statement
For the Year Ended December 31, 20Y6
$
Cost of good sold:
$
$
$
Operating expenses:
Administrative expenses:
$
$
Selling expenses:
$
Total operating expenses
$

In: Accounting

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information...

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company

The following information is available for Shanika Company for 20Y6:

Inventories January 1 December 31
Materials $346,490 $436,580
Work in process 623,680 593,750
Finished goods 599,430 606,850
Advertising expense $296,440
Depreciation expense-office equipment 41,910
Depreciation expense-factory equipment 56,320
Direct labor 672,330
Heat, light, and power-factory 22,270
Indirect labor 78,580
Materials purchased 659,240
Office salaries expense 230,080
Property taxes-factory 18,340
Property taxes-headquarters building 37,980
Rent expense-factory 31,000
Sales 3,086,620
Sales salaries expense 378,950
Supplies-factory 15,280
Miscellaneous costs-factory 9,600

Required:

1. Prepare the statement of cost of goods manufactured.

Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
$
Direct materials:
$
$
$
Factory overhead:
$
Total factory overhead
Total manufacturing costs incurred
Total manufacturing costs $
Cost of goods manufactured $

2. Prepare the income statement.

Shanika Company
Income Statement
For the Year Ended December 31, 20Y6
$
Cost of goods sold:
$
$
$
Operating expenses:
Administrative expenses:
$
$
Selling expenses:
$
Total operating expenses
$

In: Accounting

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information...

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company

The following information is available for Shanika Company for 20Y6:

Inventories January 1 December 31
Materials $441,510 $551,890
Work in process 794,720 750,570
Finished goods 763,810 767,130
Advertising expense $374,730
Depreciation expense-office equipment 52,980
Depreciation expense-factory equipment 71,190
Direct labor 849,910
Heat, light, and power-factory 28,150
Indirect labor 99,340
Materials purchased 833,350
Office salaries expense 290,850
Property taxes-factory 23,180
Property taxes-headquarters building 48,010
Rent expense-factory 39,180
Sales 3,901,860
Sales salaries expense 479,040
Supplies-factory 19,320
Miscellaneous costs-factory 12,140

Required:

1. Prepare the 20Y6 statement of cost of goods manufactured.

Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
$
Direct materials:
$
$
$
Factory overhead:
$
Total factory overhead
Total manufacturing costs incurred in 20Y6
Total manufacturing costs $
Cost of goods manufactured $

2. Prepare the 20Y6 income statement.

Shanika Company
Income Statement
For the Year Ended December 31, 20Y6
$
Cost of good sold:
$
$
$
Operating expenses:
Administrative expenses:
$
$
Selling expenses:
$
Total operating expenses
$

In: Accounting

It’s July 1 and Joanna is just out of residency, with loans that she is able...

It’s July 1 and Joanna is just out of residency, with loans that she is able to pay off at a rate of $2000 per year. She has several job offers that would pay her $1000 a week, for jobs that she would like just as much as running her own office. But she has decided to open a clinic in her rural town and is about to sign a one-year lease for office space with rent of $800 a week; once Joanna signs the lease, she is obligated to pay the rent for the full year. She is able to see 60 patient visits a week working alone, but if she hires assistants, her clinic output can be greater, according to the chart below.

Her clinic receives $18 per visit, and the salary of an assistant is $500 per week.

a) Fill in the missing values for total weekly cost and incremental cost

b) Fill in the missing values for total weekly revenue and incremental revenue

c) Is she better off hiring one assistant or two assistants?

Professional Assistants

Visits per Week

Total Cost

Total Revenue

Incremental Cost

Incremental Revenue

Revenue minus Cost

0

60

  

1

135

$   2,430

$1,350

2

180

  

$500

  

3

210

  

  

4

220

  

$ 180

In: Finance

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information...

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company

The following information is available for Shanika Company for 20Y6:

Inventories January 1 December 31
Materials $226,240 $278,280
Work in process 407,230 378,460
Finished goods 391,400 386,810
Advertising expense $188,950
Depreciation expense-office equipment 26,710
Depreciation expense-factory equipment 35,900
Direct labor 428,550
Heat, light, and power-factory 14,190
Indirect labor 50,090
Materials purchased 420,200
Office salaries expense 146,650
Property taxes-factory 11,690
Property taxes-headquarters building 24,210
Rent expense-factory 19,760
Sales 1,967,440
Sales salaries expense 241,550
Supplies-factory 9,740
Miscellaneous costs-factory 6,120

Required:

1. Prepare the statement of cost of goods manufactured.

Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
$
Direct materials:
$
$
$
Factory overhead:
$
Total factory overhead
Total manufacturing costs incurred
Total manufacturing costs $
Cost of goods manufactured $

2. Prepare the income statement.

Shanika Company
Income Statement
For the Year Ended December 31, 20Y6
$
Cost of goods sold:
$
$
$
Operating expenses:
Administrative expenses:
$
$
Selling expenses:
$
Total operating expenses
$

In: Accounting

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information...

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company

The following information is available for Shanika Company for 20Y6:

Inventories January 1 December 31
Materials $296,600 $364,820
Work in process 533,880 496,160
Finished goods 513,120 507,100
Advertising expense $247,710
Depreciation expense-office equipment 35,020
Depreciation expense-factory equipment 47,060
Direct labor 561,820
Heat, light, and power-factory 18,610
Indirect labor 65,670
Materials purchased 550,880
Office salaries expense 192,260
Property taxes-factory 15,320
Property taxes-headquarters building 31,740
Rent expense-factory 25,900
Sales 2,579,280
Sales salaries expense 316,660
Supplies-factory 12,770
Miscellaneous costs-factory 8,030

Required:

1. Prepare the statement of cost of goods manufactured.

Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
$
Direct materials:
$
$
$
Factory overhead:
$
Total factory overhead
Total manufacturing costs incurred
Total manufacturing costs $
Cost of goods manufactured $

2. Prepare the income statement.

Shanika Company
Income Statement
For the Year Ended December 31, 20Y6
$
Cost of goods sold:
$
$
$
Operating expenses:
Administrative expenses:
$
$
Selling expenses:
$
Total operating expenses
$

In: Accounting