Name:

Problem $14-2.$

Eggs Etc.

Income Statement for year ending December $31,19$xx

Income from Sales:

Sales

Cost of Goods Sold:

Merchandise Inventory, Jan $1,19$xx

Purchases

Freight$-$In

Delivered Cost of Purchases

Merchandise Available for Sale

Deduct Merchandise Inventory, Dec $31,19$xx

Cost of Goods Sold $.$

Gross Profit on Sales

Operating Expenses:

Selling Expenses:

Sales Commission Expense

Commissions Payable

Advertising Expense

Store Supplies Expense

Total Selling Expense

General Expenses:

Office Salaries

Office Supplies Expense

Insurance Expense $--$ General

Rent Expense

Total General Expenses

$($d$)$

Total Operating Expenses.

Net Income From Operations

$($a$)$

$($b$)$

$($c$)$

$($d$)$

$($e$)$

$($f$)$