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Calculate the net income of forest ltd for the month ending

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Reference no: EM133185095

Question - The following financial information has been collected for Forest Ltd for the month of December 2020.

Accounts

Balance

Cash 

45,250

Inventory

88,750

Prepaid expenses

3,560

interest expense

1,200

Interest revenue

2,650

Sales revenue 

880,500

Insurance expense   

32,000

Supplies

4,560

Supplies expense

6,340

Owner's drawings

3,500

salary expense

25,400

COGS

560,800

Unearned revenue

25,700

Required - Calculate the net income of Forest Ltd for the Month ending December 31, 2020.

Reference no: EM133185095

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