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.
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Answer:
60 +24 = 84
Step-by-step explanation:jjjjjhjhjhj
6 x 4 +5 x 12
Answer:
No x-intercept
Step-by-step explanation:
When there's an equation that has no x then it will not touch the x axis.
Answer:
The mean or average is 9.5 for this set of data. The median is 10.5 and the range is 5.
Answer:
I'm pretty sure he or she are right^^
Step-by-step explanation:
I Know
