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Exercise 5-6

Presented below is information for Lieu Co. for the month of January 2017.

Cost of goods sold		$212,000		Rent expense		$32,000
Freight-out		7,000		Sales discounts		8,000
Insurance expense		12,000		Sales returns and allowances		20,000
Salaries and wages expense		60,000		Sales revenue		370,000
Income tax expense		5,000		Other comprehensive income (net of $400 tax)		2,000

C ii Seoure https edugen.wierplus.com.eduqen/t/manuni I, Accounting, Gc Exercise 5-6 Presented below is information for Licu Co. for the morth of Jonuary 2017 Cozt ot goods scld Freight-out salaries nd rasges expense u.uou sales revenue Income tx xpenee Chapter S Accapinent for Class Meeting 212,000 Rent cxpec $32,000 7,n0n Salas discounts Reviow Score 20,300 370,000 5,000 Other comprchanlc Inccma net ot $40o tax 2,000 obiertive Prepare an income statement using the multi-stap fomat lype here to search