The Following Data Was Taken from the Books of Amelmen

question 14

Essay

The following data was taken from the books of Amelmen Inc. as of December 31, 20X1: $\begin{array}{|l|r|l|r|}\hline \text { Cost of goods sold } & \$ 15,300 & \text { Selling \& admin expense } & \$ 3,500 \\\hline \text { Income tax expense } & 6,120 & \text { Accounts payable } & 12,000 \\\hline \text { Cash } & 3,500 & \text { Common shares, }(6,500 \text { shares) } & 20,000 \\\hline \text { Dividends } & 6,000 & \text { Other income } & 1,500 \\\hline \text { Interest expense } & 900 & \text { Sales revenue } & 35,000 \\\hline \text { Amortization expense } & 1,500 & \text { Retained earnings } & 8,000 \\\hline\end{array}$
Prepare an income statement for Amelmen Inc.

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