Complete the Income Statement

question 6

Multiple Choice

Complete the income statement.
-Central Data Inc. had gross sales of $212,000 with returns of $5,100. The inventory on January 1 was $56,000. During the year $101,000 worth of goods was purchased with freight of $1,700. The inventory on December 31 was $53,000. Wages and salaries were $54,400, rent was $13,600, advertising was $2,200, utilities were $2,700, business taxes totaled $5,600, and miscellaneous expenses were $3,800.

• A)1)$212,000, 2)$5,100, 3)$206,900, 4)$105,700, 5)$101,200, 6)$82,300, 7)$18,900
• B)1)$212,000, 2)$5,100, 3)$206,900, 4)$105,700, 5)$101,200, 6)$82,300, 7)$29,100
• C)1)$212,000, 2)$5,100, 3)$217,100, 4)$105,700, 5)$111,400, 6)$82,300, 7)$29,100
• D)1)$212,000, 2)$5,100, 3)$206,900, 4)$102,300, 5)$104,600, 6)$82,300, 7)$18,900

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Definitions:

Amusement

Activities, events, or experiences designed to entertain and provide enjoyment or laughter to participants or observers.

Labor-Saving Devices

Labor-saving devices are tools, machines, or equipment designed to reduce the amount of manual labor and time required to complete various tasks or chores.

Leisure Time

The period of time during which an individual is not working or fulfilling obligations, allowing for rest, recreation, or personal activities.