(L. OBJ. 4) Preparing an income statement for a merchandising company [45—55 min] In 20...

(L. OBJ. 4) Preparing an income statement for a merchandising company [45—55 min]

In 2011 Cam Snyder opened Cam’s Pets, a small retail shop selling pet supplies. On December 31, 2011, Cam’s accounting records showed the following:

Requirement

1. Prepare an income statement for Cam’s Pets, a merchandiser, for the year ended December 31, 2011.