Question: Compute the following amounts for the income statement. Do not use negative signs in your answers. Kelly's Kandles Antiques Galore Sales 133200 40,000 Cost of

Compute the following amounts for the income statement. Do not use negative signs in your answers.

Kelly's Kandles

Antiques Galore

Sales

133200

40,000

Cost of goods sold

Gross margin

25600

Selling expenses

13,500

4,000

General and Admin.expenses

16,100

1000

Net income before tax

51600

Income tax expense

1,200

Net income

32300

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