prepare post closing trial balance Classified income statement: Callaho Inc. Income Statement For month ended October 31,

prepare post closing trial balance

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Classified income statement: Callaho Inc. Income Statement For month ended October 31, 2024 Sales Sales discounts Net sales Cost of goods sold Gross profit from sales.. 2,835,600 37,944 2,797,656 1,210,854 1,586,802 Operating expenses Selling expenses Rent expense, selling space. 2,000 Sales salaries expense... 72,000 Total selling expenses_ 74,000 General and administrative expenses Bad debts expense... 237,315 Bank service charge expense. 1,400 Depreciation expense, office furniture. 167 Insurance expense. 2,500 Office salaries expense. 28,000 Rent expense, office space. 3,000 Utilities expense. 6,970 Total general and administrative expenses. 279,352 Total operating expenses. 353,352 Income from operations. 1,233,450 Other revenues and expenses Interest earned 286 Loss on sale of property, plant and equipment assets (288) (2) Income before tax 1,233,448 Income taxes expense. 185,000 Net income 1,048,448 Classified income statement: Callaho Inc. Income Statement For month ended October 31, 2024 Sales Sales discounts Net sales Cost of goods sold Gross profit from sales.. 2,835,600 37,944 2,797,656 1,210,854 1,586,802 Operating expenses Selling expenses Rent expense, selling space. 2,000 Sales salaries expense... 72,000 Total selling expenses_ 74,000 General and administrative expenses Bad debts expense... 237,315 Bank service charge expense. 1,400 Depreciation expense, office furniture. 167 Insurance expense. 2,500 Office salaries expense. 28,000 Rent expense, office space. 3,000 Utilities expense. 6,970 Total general and administrative expenses. 279,352 Total operating expenses. 353,352 Income from operations. 1,233,450 Other revenues and expenses Interest earned 286 Loss on sale of property, plant and equipment assets (288) (2) Income before tax 1,233,448 Income taxes expense. 185,000 Net income 1,048,448