The preparation of Reading Readiness, Inc.'s multi-step Income Statement for the month ended January 31 is as follows:
Reading Readiness, Inc.
Income Statement
For the month ended January 31
Sales Revenue $175,500
Less:
Sales Returns 4,700
Sales Discounts 6,000
Net Sales $164,800
Cost of Goods Sold 67,700
Gross profit $97,100
Expenses:
Salaries and Wages $25,900
Depreciation Expense 13,800
Rent Expense 24,000
Operating expenses $63,700
Operating income $33,400
Interest Expense 1,600
Income before tax $31,800
Income tax expense 7,700
Net income $24,100
Data and Calculation:
Gross profit percentage = 59% ($97,100/$164,800 x 100)
Thus, the net income after deducting the income tax expense is $24,100.
Learn more: brainly.com/question/24257787
Answer:
C I think
Step-by-step explanation:
Hello!
We could write this equation as shown below.
5x+7=23
As you can see, your answer will be D) 5x+7=23
I hope this helps!
Answer:
60 × 50 = 3000
7 × 50 = 350
60 × 4 = 240
7 × 4 = 28
3000 + 350 + 240 + 28 =3618
54 × 67 = 3618
Can u send the question to be more clear
