Current Attempt in Progress

Based on the following transactions, answer the following questions.

i$.$ Inventory costing $$81,200$ was purchased on account.

ii$.$ Inventory costing $$69,600$ was sold for $$116,000.$ Eighty percent of the sales were for cash.

iii. Cash collected from credit customers $($those who bought on account$)$ totalled $$23,200.$

iv$.$ A lease was signed at the beginning of the year, requiring monthly payments of $$1,200.$ The rent for the first month was paid when the lease was signed. After that, the $$1,200$ rent was paid on the last day of each month, to cover the following month.

v$.$ Supplies costing $$6,400$ were purchased for cash. At the end of the year, $$600$ of the supplies were still unused.

vi$.$ Wages of $$43,500$ were paid during the yedr. Also, wages of $$600$ remained unpaid at year end.

Calculate the revenues, expenses, and net income that would be reported on the accrual basis. $($Enter loss amounts using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$

$\backslash$table$[[$Revenues$,$$