Question

Prepare the income statement for Clear Bay Company for the most recent year. Use the action of cost of goods sold cost of goods manufactured and the amounts below. Assume that the company sold 35.000s of its product tape of $14 och during the year the icon to view the amounts) then to the calculation of cost of goods manufactured) Click the icon to view the calculation of cost of goods sold) Clear Bay Company Income Statement For Current Year LG Data Table End of Year 5 Beginning End of of Year $ 22 000 $ 33000 ance on an 5 41.000 $ 27000 Depreciation building and equipment $ 14.000 $ 21.000 pasandmantenance plant Raw matory Work in process inventory Finished goods inventory Purchases of direct mais Director Indret labor $ 13.000 $ 4.000 $34.000 $35.000 Grandinistrative pense $ 45.000 Dene Choose from any store any number in the outside and then contestion

Answer 1

Clear Bay Company
Income Statement
for current year
Sales revenue [35,000 x $14]		$490,000
Less: Cost of goods sold		$232,900
Gross profit		$257,100
Less: Operating expenses
Marketing expenses	$54,000
General and administrative expense	$26,500	$80,500
Operating income		$176,600