In April, Holderness Incorporated, a merchandising company, had sales of $301,000, selling expenses of $22,000, and...

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In April, Holderness Incorporated, a merchandising company, had sales of $301,000, selling expenses of $22,000, and administrative expenses of $33,000. The cost of merchandise purchased during the month was $171,000. The beginning balance in the merchandise inventory account was $42,000 and the ending balance was $56,000. Required: Prepare a traditional format income statement for April. Holderness Incorporated For the month of April Traditional Format Income Statement Selling and administrative expenses: 0 0 $ 0 13 In April, Holderness Incorporated, a merchandising company, had sales of $301,000, selling expenses of $22,000, and administrative expenses of $33,000. The cost of merchandise purchased during the month was $171,000. The beginning balance in the merchandise inventory account was $42,000 and the ending balance was $56,000. Required: Prepare a traditional format income statement for April. Holderness Incorporated For the month of April Traditional Format Income Statement Selling and administrative expenses: 0 0 $ 0 13