Question

Pepare the income tement to Qualny Aguatic Company for the most the amu Ue the calculation uf cot of goods sold, cont af goods manutacthuned, and the amourts belo Aasume that the company sld 9.a00 units of es product ata pice f S15 ach duing the year lIiCick the con te we the clion d gods malue) Iicick the ol geods sod) Quality Company End of End of Beginning Income Sttement of Year Year Year for Curent Tean Ra ry Wek in pc y 24.000 25 000 nce on plant 1000 Depctonplat blding and egupement .000 Les 19.000 S 2700 ep dtenance plant S.000 Marketing expenses 4400 Imeals S9.000 Genal and aiaepenses .000 s 2.500 .000 Print Done O Reference Qality Ag d Calclatof Cotot oMaad For Cament Yea Quality Ati Manfachring Begng woka pocess nenry 2000 Pl Calculaon of Cot of Goods Sold Manuing costs med For Carent Year 4.000 eng hed gods inetery 19.000 Pl Cot of mactured 22400 Maach ead 000 Cet dlatie or Le Ending hed ery 247600 25400 epice ay 31.000 Cf od sld 22 00 Choose om any t or ener any erthe pu tdand hen Ch A A parts showing Pret Done Done

prepare the income statement for quality aquatic company for the most recent year. Use the calculation of the cost of goods, cost of goods manufactured, and the amounts below. Assume that the company sold 39,000 units of its product at a price of $15 each during the year.

Answer 1

Quality Aquatic Company
Income Statement
For Current Year
Sales (39000*$15)		$585000
Less: Cost of goods sold		220600
Gross profit		364400
Less: Operating expenses
Marketing expenses	79000
General and administrative salaries	29500	108500
Operating income		$255900