Question

The income statement provided is from June. Since Aafreen operates her restaurant on a calendar year, the net income represents the profit for half the year. Assuming that sales and expenses stay relatively consistent for the remainder of the year, how much profit should Aafreen expect to make for the entire year

Answer 1

The income statement is one of the most common and important financial statements. The income statement, also known as the income statement (P&L), summarizes all income and expenses over a period of time, including the cumulative impact of income, profits, expenses, and loss transactions.

S stands for Selling Expenses and includes the costs of advertising, selling, and delivering goods and services. Selling expenses include sales materials, travel expenses to customers and prospects, advertising expenses, salesperson salaries and commissions, and so on.

Operating expenses — also known as selling, general, and administrative (SG&A) expenses — are the costs of running a business. These include rent and utilities, marketing costs, computer equipment, and employee benefits.

Learn more about sales and expenses at

brainly.com/question/24778422

#SPJ4