Revolve Company's income statement information for 2016 and 2017 (a sole proprietorship) is as follows: Required: Compute

Question:

Revolve Company's income statement information for 2016 and 2017 (a sole proprietorship) is as follows:

2016 2017 S(a) Cost of goods sold $59,300 Interest expense 600 Selling expenses (b) 10,800 Operating income 21,800 (d) S

Required:
Compute the missing amounts labeled (a) through (f). All the necessary information is listed.
(a) Cost of goods sold $
(b) Selling expenses $
(c) Net income $
(d) Operating income$
(e) Sales (net) $
(f) General expenses $

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Question Posted: Mar 05, 2018 10:29 AM

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Revolve Company's income statement information for 2016 and 2017 (a sole proprietorship) is as follows: Required: Compute

Question:

2016 2017 S(a) Cost of goods sold $59,300 Interest expense 600 Selling expenses (b) 10,800 Operating income 21,800 (d) Sales (net) 96,000 (e) General expenses 7,900 (f) Net income (c) 21,600 Interest revenue 600 Gross profit 39,000 40,200

Step by Step Answer:

a Cost of goods sold Salesnet Gross profit 96000 39000 57...View the full answer

Intermediate Accounting Reporting and Analysis

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