Citrine Manufacturing Provided the Following Information for the Month Ended

question 35

Essay

Citrine Manufacturing provided the following information for the month ended March 31:
$$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 22,000 \\\hline \text { Beginning Finished Goods Inventory } & 7,000 \\\hline \text { Ending Finished Goods Inventory } & 6,500 \\\hline \text { Cost of Goods Manufactured } & 10,600 \\\hline \text { Selling and Administrative Expenses } & 5,125 \\\hline\end{array}$$ Prepare the income statement.

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Definitions:

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The condition of having sufficient personal wealth to live, without needing to work for basic necessities, allowing for financial self-sufficiency.

American System

An economic plan that played a prominent role in American policy during the first half of the 19th century, advocating for a strong role for federal government in the economy, including a national bank, high tariffs, and internal improvements.

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