Question

Sve Homework: assign 1 - retail co Score: 0 of 1 pt 3 of 16 (4 complete HW Score: 25, 4 of 16 pts E2-24A (book/static) Question Help Nel Website is the sole proprietor of Prestigious Pugs a business specializing in the wall of high-end petits and accessories Prestigious Puger les totaled $1,105,000 during the most recent year. During the year, the company spent 356.000 en expenses relating to website maintenance, 530.500 on manating and $20,Soon war, boxing and poing the good to come. Provigious Pupon 638,000 on inventory purchases and an adona 19.500 on height in charges. The company at the year with $1,250 of Inventory on hand and ended the yew with $16.000 of inventory. Prepare Prestigious Pugrincome statement for the most recent year. Begin by calculating the cost of goods sold for the Prestigious Puge Cost of Good Bold For Current Year Pus Le Cost of goods Choose from any list or enter any number in the input fields and then click Check Answer 1 Part remaining Clear All Check Answer

Answer 1

	Prestigious pugs
	Cost of goods sold
	for the current year
	Particular	amount ($)
	Beginning inventory	16250
	plus : purchase and freight inn	657500	(638000+19500)
	cost of goods available for sale	673750
	less : ending inventory	16000
	cost of goods sold	$657750
	Prestigious pugs
	Income statement
	for the current year
	Particular	amount ($)
	Sales revenue		1105000
	less: Cost of goods sold		657750
	Gross profit		447250
	less: expenses
	Website maintenance expense	-55000
	Marketing expense	-30500
	Wrapping,boxing and shipping expense	-29500	-115000
	Operating income		$332250