Question

15 engageNOWV2 N Netflix -Book Calculator Print Item of their inventory ust Beachy is a retail business located on the coast of Florida where it sells a variety of beach apparel, T-shirts, and beach-related souvenirs. The purchase rom wholesalers and distributors. For the year ending December 31, 2017, they reported the following revenues and expenses. Sales revenue $705,000 Building rent 50,000 Advertising 50,000 Sales staff salaries 83,000 Cost of goods sold 315,000 Utilities 25,000 Supplies 7,000 Using this information, prepare an income statement for Just Beachy for 2017 Just Beachy Income Statement For Year Ending 2017 Oui DO Check My Won

Answer 1

Just Beachy Income statement For year ending 2017 sales revenue $705,000 Cost of goods sold $ 315,000 Gross Profit from $ 390,000 - sales operating expenses : Building Rent $50,000 Advertising $50,000 Sales Staff salaries $83000 utilities expenses $25,000 Supplices expenses $7,000 - $215,000 Net Income $ 175,000