In October, Youngstown Corporation Had Sales of $273,000, Selling Expenses

question 45

Essay

In October, Youngstown Corporation had sales of $273,000, selling expenses of $26,000, and administrative expenses of $47,000. The cost of goods manufactured was $183,000. The beginning balance in the finished goods inventory account was $45,000 and the ending balance was $34,000.
Required:
Prepare an Income Statement in good form for October.

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Definitions:

Marketing Environment

The external factors and forces that affect a company's ability to develop and maintain successful transactions and relationships with its target customers.

Income Distribution

The way in which total income is shared among the population of a country or region.

Demographic Characteristics

Statistical data relating to the population and the particular groups within it, such as age, gender, income, and education levels.

Consumer Confidence

Consumer confidence is a measure of how optimistic or pessimistic consumers are regarding their expected financial situation, significantly influencing their spending and saving behaviors.