7- The following account balances were obtained from the records of El-Eiman Company at December 31,...

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7- The following account balances were obtained from the records of El-Eiman Company at December 31, 2016. Account Name SR Account Name SR Beginning inventory 21,000 Salaries expense 12,000 Ending inventory 28,000 Telephone expense 9,000 Sales 105.000 Advertising expense 6,000 Purchases 40,000 Rent expense 14,000 Required: Prepare the income statement. El-Eiman Company Income Statement For the period ended December 31, 2016 Less: Cost of goods sold Cost of goods available for sale Cost of Goods Sold (COGS) Less: Operating expenses Total operating expense || 6 7- The following account balances were obtained from the records of El-Eiman Company at December 31, 2016. Account Name SR Account Name SR Beginning inventory 21,000 Salaries expense 12,000 Ending inventory 28,000 Telephone expense 9,000 Sales 105.000 Advertising expense 6,000 Purchases 40,000 Rent expense 14,000 Required: Prepare the income statement. El-Eiman Company Income Statement For the period ended December 31, 2016 Less: Cost of goods sold Cost of goods available for sale Cost of Goods Sold (COGS) Less: Operating expenses Total operating expense || 6

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ElEiman Company Income Statement For the period ended December 31 2016 PARTICULARS NOTES ... View the full answer