The adjusted account balances of Pharoah Company show these data pertaining to sales at the end of its fiscal year, October 31, 2022: Sales Revenue $810,000, Freight-Out $12,600, Sales Returns and Allowances $19,800, and Sales Discounts$12,150.

Prepare the sales section of the income statement.

PHAROAH COMPANY Income Statement (Partial) choose the accounting period For the Month Ended October 31,2022October 31, 2022For the Year Ended October 31, 2022
select an opening name for this statement Sales Total Expenses Dividends Total Revenues Retained Earnings, October 31, 2017Retained Earnings, November 1, 2016NetSalesExpensesNet Income / (Loss)
enter an income statement item		$enter a dollar amount
select between addition and deduction AddLess:
enter an income statement item	$enter a dollar amount
enter an income statement item	enter a dollar amount
		enter a total of the two previous amounts
select a closing name for this statement Expenses Total Revenues Net Income / (Loss)Dividends Sales Net Sales Retained Earnings, October 31, 2017Retained Earnings, November1, 2016Total Expenses		$enter a total net sales amount

Answer rating: 100% (QA)

Solution Prepare the sales section of the income statement as foll... View the full answer