Slapshot Company makes ice hockey sticks and sold 16,000 sticks during the month of June at...

 

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Slapshot Company makes ice hockey sticks and sold 16,000 sticks during the month of June at a total cost of $431,000. Each stick sold at a price of $90. Slapshot also incurred two types of selling costs: commissions equal to 15 percent of the sales price, and other selling expense of $200,000. Administrative expense totaled $115,000. Cornerstone Exercise 2-24 Manufacturing Firm Income Statement Refer to the information for Slapshot Company above. Required: Prepare an income statement for Slapshot for the month of June. Cornerstone Exercise 2-25 Income Statement Percentages Refer to the information for Slapshot Company above. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income statement. (Note: Round answers to one decimal place.) Slapshot Company makes ice hockey sticks and sold 16,000 sticks during the month of June at a total cost of $431,000. Each stick sold at a price of $90. Slapshot also incurred two types of selling costs: commissions equal to 15 percent of the sales price, and other selling expense of $200,000. Administrative expense totaled $115,000. Cornerstone Exercise 2-24 Manufacturing Firm Income Statement Refer to the information for Slapshot Company above. Required: Prepare an income statement for Slapshot for the month of June. Cornerstone Exercise 2-25 Income Statement Percentages Refer to the information for Slapshot Company above. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income statement. (Note: Round answers to one decimal place.)

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First lets prepare an income statement for Slapshot Company for the month of June Slapshot Company Income Statement For the Month Ended June 30 Sales ... View the full answer