Question: Given the following income statement, complete the General Excise Tax Return (Form G- 49) City Wide uses the accrual method to collect and record GET
Given the following income statement, complete the General Excise Tax Return (Form G- 49) City Wide uses the accrual method to collect and record GET tax. (10 points). V. City Wide Electric Supply Company Income Statement For the Month Ended January 31, 200X Revenue from Sales: $15,000 Net Sales (all Retail) 7,310 7,690 Less: Cost of Merchandise Sold Gross Profit 4,927 $ 2,763 Total Operating Expenses Income from Operations 1,030 Other Income (all non taxable for GET) $ 3,793 Net Income
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