What type of degree can you earn from a community college?
2 answers:
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Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The net sales would be = Sales revenue - sales discount - sales return and allowances
= $39,000 - $1,950 - $1,755
= $35,295
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
