Question

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TH JUW.in, 1266 of 13 E2-27A (similar to) Belo Prepare the income statement for Aqua Source Company, for the most recent year, using the amounts and the schedule of cost of good manufactured below Assume that the company od 11.000 units of its product a price of $10 ch during the year Click the icon to view the amounts) Click the leon to view the schedule.) Aqua Source Company Income Statement For Last Year Cost of goods sold Operating expenses Total operating expenses Oraingo Check Answer 4 Choose from any list or enter any number in the input fields and then click Check Answer

Answer 1

Aqua Source Company Income Statement For Last Year
Sales (36,000 units x $ 19 )		$ 684,000
Cost of Goods Sold :
Cost of Goods Manufactured	$ 238,000
Add: Beginning Finished Goods inventory	$ 25,000
Goods Available for sale	$ 263,000
Less: Ending Finished Goods inventory	($ 34,000 )
Less: Cost of Goods Sold		($ 229,000)
Gross Profit		$ 455,000
Operating Expenses :
Selling Expenses
- Marketing Expenses	$ 81,000
-General and Administrative expenses	$ 31,000
Total Operating Expenses		($ 112,000)
Net Income		$ 343,000