Complete the Income Statement

question 37

Multiple Choice

Complete the income statement.
-Frank's Nursery had gross sales of $2,273,000 with returns of $57,800. The inventory on January 1 was $567,000. During the year $1,130,000 worth of goods was purchased with freight of $5,600. The
Inventory on December 31 was $525,000. Wages and salaries were $81,600, rent was $10,200,
Advertising was $17,700, utilities were $5,200, business taxes totaled $8,500, and miscellaneous
Expenses were $6,100.

• A)1)$2,273,000, 2)$57,800, 3)$2,215,200, 4)$1,177,600, 5)$1,037,600, 6)$129,300, 7)$908,300
• B)1)$2,273,000, 2)$57,800, 3)$2,215,200, 4)$1,166,400, 5)$1,048,800, 6)$129,300, 7)$908,300
• C)1)$2,273,000, 2)$57,800, 3)$2,330,800, 4)$1,177,600, 5)$1,153,200, 6)$129,300, 7)$1,023,900
• D)1)$2,273,000, 2)$57,800, 3)$2,215,200, 4)$1,177,600, 5)$1,037,600, 6)$129,300, 7)$1,023,900