Question: Construct a final profit and loss statement from the figures listed below and calculate the major factors as percentages and dollar amounts.: Long answer: Opening

Construct a final profit and loss statement from the figures listed below and calculate the major factors as percentages and dollar amounts.:

Long answer:

Opening inventory $ 70,200

Gross sales 248,000

Advertising 15,000

Misc. expenses 18,000

Purchases, at cost 125,000

Closing inventory 78,000

Customer returns 25,800

Salaries 26,000

Transportation charges 8,000

Rent 39,000

Cash discounts 3%

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