1.  Puzzles, Pranks & Games is a retail business selling children's toys and games as well as a wide selection of jigsaw puzzles and accessories. They purchase their inventory from local and national wholesale suppliers. For the year ending December 31, 2017, they reported these revenues and expenses. 
2. 

 Using this information, prepare an income statement (Managerial Accounting format) for Puzzles, Pranks & Games for 2017. 

Transcribed Image Text:

Sales revenue Rent Advertising Sales staff salaries Cost of goods sold Utilities Supplies $415,000 24,000 13,000 45.000 210,000 11,000 4,000 Sales revenue Rent Advertising Sales staff salaries Cost of goods sold Utilities Supplies $415,000 24,000 13,000 45.000 210,000 11,000 4,000

Answer rating: 100% (QA)

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