Question: Long Answer: Construct a final profit and loss statement from the figures listed below and calculate the major factors in both dollars and percentages. Gross

Long Answer:

Construct a final profit and loss statement from the figures listed below and calculate the major factors in both dollars and percentages.

Gross Sales 248,000

Advertising 15,000

Misc. Expenses 18,000

Purchases at cost 120,000

Customer Returns 25,800

Salaries 26,000

Transportation 8,000

Rent 29,000

Cash Discounts 3%

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