Question: its the same answer choices for the 7 statements. Ashanti Inc manufactures and sells glass vases, bowls and other decorative pieces as home furnishings. During
Ashanti Inc manufactures and sells glass vases, bowls and other decorative pieces as home furnishings. During the month, the company sold 200 vases for $30 each and 100 bowls for $20 each. Each vase and bowl costs $13 to produce. The company incurred $2,000 in selling and administrative expenses for the month. In addition, Ashanti Inc. sold one of its glass blowing machines that cost $3,900 for $5,800. Income tax is 20% on income before taxes. Complete the income statement below. Choose. $7.900 Sales $3,200 $4,000 Cost of good sold $8,000 $800 Gross profit $3,900 $6,000 Operating income $2,100 $13,800 Gain on sale of glass blowing machine $9,900 Income tax expense $1,900 $4.100 Net income Choose
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