Question: Please find Net Profit $ value using below information. (answer is XXXX), no commas or $ value For the season, the accounting department forwarded to

Please find Net Profit $ value using below information. (answer is XXXX), no commas or $ value For the season, the accounting department forwarded to you the following information. Construct a P&L Statement from the following figures: Opening Inventory (Cost) $148,000 Advertising $ 30,000 Gross Sales $496,000 Misc. Expenses $ 36,000 Billed Costs $240,000 Closing Inventory (Cost) $156,000 Customer Returns $ 51,600 Selling Salaries $ 52,000 Freight Charges $ 16,000 Wrapping & Packing $ 39,000 Rent $ 40,000 Alterations & Workroom $ 2,000 Cash Discount 2%

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