Winterfell Products manufactures electrical switches for the aerospace industry. For the year ending 2019, they reported...
Winterfell Products manufactures electrical switches for the aerospace industry. For the year ending 2019, they reported these revenues and expenses. Use this information to construct an income statement for the year 2019.
Sales Revenue: $865,000
Cost of Goods Sold: $354,000
Operating Expenses: $315,000
Homework Answers
Winterfell Products Manufacturers
Income Statement
For The Year Ended 2019
| Particulars | Amount |
| Sales Revenue | $865,000 |
| Cost of goods sold | $(354,000) |
| Gross profit | $511,000 |
| Operating expenses | $(315,000) |
| Net income | $196,000 |
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Winterfell Products manufactures electrical switches for the
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