Question: INCOME STATEMENT Temporal method Sales (20,200 * _031) =$626 Opening inventory (3,500 x .045) = 158 Purchases (12,600 * .031) = 391 Closing inventory (4,800

INCOME STATEMENT Temporal method Sales (20,200 * _031) =$626 Opening inventory (3,500 x .045) = 158 Purchases (12,600 * .031) = 391 Closing inventory (4,800 x _027) = 130 Operating expenses excluding depreciation (3,400 * .031) = 105 Depreciation (400 * .075 = 30) (600 * .062 = 37) = 67 Interest (700 * 031) = 22 Taxes (600 * _031) = 19

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