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3 years ago

Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2015.

Business

1 answer:

Slav-nsk [51]3 years ago

6 0

Answer:

CHEESE FACTORY INCORPORATED

Income Statement

For the Year Ended August 31, 2015

Revenues:

Sales revenue $1,738,000

Total revenue $1,738,000

Expenses

Salaries and wages expense $975,000

Office expenses $115,000

Utilities expense $550,000

Total expenses $1,640,000

Net income $98,000

CHEESE FACTORY INCORPORATED

Statement of Retained Earnings

For the Year Ended August 31, 2015

Retained earnings, beginning $414,000

Add: Net income $98,000

Less: Dividends $14,000

Retained earnings, ending $498,000

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