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Prepare an income statement for february

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Reference no: EM13516411

Prepare Statements for a Merchandising Company

Powell Street Electronics has provided the following information for February:

Sales revenue

$ 807,000

Store rent

43,600

Store utilities

27,100

Administrative costs

57,750

Sales commissions

128,300

Merchandise purchases

545,500

Transportation-in costs

21,200

Merchandise inventory, February 1

37,100

Merchandise inventory, February 28

41,800

Required

Prepare an income statement for February with a supporting cost of goods sold statement.

Reference no: EM13516411

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