Swirzoff Company Sells Office Supplies Required: Prepare an Income Statement for Swirzoff Company,a Merchandiser,for the Activities

question 45

Essay

Swirzoff Company sells office supplies.The following information summarizes Swirzoff's operating activities for the past year:
$$\begin{array} { | l | r | } \hline \text { Utilities for stare } & 6,000 \\\hline \text { Rent for stare } & 8,000 \\\hline \text { Sales comris sions } & 4,500 \\\hline \text { Purchases af merchandise } & 54,000 \\\hline \text { Inventory, ending } & 20,500 \\\hline \text { Inventary, beginging } & 30,000 \\\hline \text { Sales revenue } & 108,000 \\\hline\end{array}$$ Required: Prepare an income statement for Swirzoff Company,a merchandiser,for the year ended December 31.

---

Definitions:

Simulation Models

Are computational tools used to imitate the operations of real-world processes or systems for the purpose of analysis or decision-making.

Setup Cost

The expenses associated with configuring or preparing equipment, machinery, or production lines for manufacturing a new product batch or type.

Operate

Operate refers to the process of controlling and managing the functions of systems, machinery, or organizations.

Strategic Planning

A systematic process for envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.