Question: Listed below are selected financial data from the accounting records of Innovative Computers Pty Ltd for the year ended 30 June 2016. Cost of goods

Listed below are selected financial data from the accounting records of Innovative Computers Pty Ltd for the year ended 30 June 2016.


Cost of goods manufactured

Ending finished goods

Income

Beginning finished goods

Selling and administrative expenses


$1 352 000

180000

3520000

144000

801200


Required

Prepare an income statement for the year ended 30 June 2016.

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