Laurier Baseball Inc. sells baseballs to minor league teams. Below is some data for 2010.
Unit sales price ...............................................$ 7.00
Unit cost of goods sold price ............................... 5.50
Fixed costs:
Depreciation expense ........................................270,000
Rent expense ..................................................500,000
Salaries ........................................................250,000
Commission expense ..............................10% of sales revenues
Quantity sold .................................................. 2,000,000
Required:
Construct an income statement for Laurier Baseball Inc. for 2010.