Question: Please create an income statement with the following data from January 2019 - December 2019: - 1500 business students will spend $300 annually on clothes

Please create an income statement with the following data from January 2019 - December 2019:

- 1500 business students will spend $300 annually on clothes

- Capturing 10% of these sales would result in $45,000 in sales annually

- Labour is free from volunteers

- Average selling price of $30 per item

- Items were sold just over cost so there is no profits currently

It- Estimated that 100 hundred items had been sold so far

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It is required to prepare Income statement for a cloth sales transactions to business students for the period January 012019 to December 312019 SOLUTI... View full answer

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