Let's Work It Out operates several retail stores that specialize in products for a healthy lifestyle. Some of its financial information is shown below for its fiscal year ended March 31, 2019. Cost of Goods Sold $73,300 Depreciation Expense - Store Equipment $5,160 Gain on Sale of Equipment Insurance Expense Interest Expense $4,300 $10,700 $1,160 Office Salaries Expense $39,100 Office Supplies Expense $3,000 Sales Discounts $2,800 Sales Returns and Allowances $5,500 Sales Revenue $193,300 Sales Salaries Expense $39,000 Utilities Expense - Office $2,400 $5,700 Utilities Expense - Retail Required Create a multi-step income statement. Do not enter dollar signs or commas in the input boxes. Enter all accounts under the appropriate section in alphabetical order. Do not use negative signs.

Planet Ltd produces fridges and freezers, which are sold to retailers. The financial statements for the last three years are as follows:  Income statements for the year ending 31st December   2021 2022   £000 £000 Revenue 336,250 427,038 Cost of sales (126,675) (190,012) Gross profit 209,575 237,025 Administration expenses (73,290) (95,795) Distribution expenses (14,678) (8,720) Operating profit 121,407 121,931 Interest (8,750) (11,250) Profit before tax 118,142 166,326 Tax (22,531) (22,136) Profit for the year 90,126 88,545   Statements of financial position as at 31st December   2021 2022   ￡000 ￡000 Non-current assets     Property, plant and equipment 286,250 327,650 Current assets     Inventories 37,000 28,000 Trade receivables 42,000 43,500 Cash 19,632 24,570   98,632 96,070 Total assets 384,882…

I need help with this:   Elgin Flooring Company sells floor coverings through two departments, carpeting and hard covering (tile and linoleum).  Operating information for 29019 appears below:   Carpeting Dept Hard Covering Dept Inventory, January 1, 2019 $60,000 $26,000 Inventory, Dec 31, 2019 50,000 30,000 Net sales 500,000 800,000 Purchases 300,000 560,000 Purchases returns 28,000 8,000 Purchases discounts 16,000 4,000 Transportation in 18,000 14,000 Traceable department expenses 108,000 56,000 Common operating expenses of the firm were $225,000 Required a) Prepare a departmental income statement showing departmental contribution to common expenses and net income of the firm.  Assume an over effective income tax rate of 20%.  Elgin uses a periodic inventory system. b) Calculate the gross profit percentage for each department. c) If the common expenses were allocated 40% to the carpeting department and 60% to the hard covering department, what would the net…

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Magio Company manufactures kitchen equipment used in hospitals. They distribute their products directly to the customer and, for the year ending 2019, they reported these revenues and expenses. Use this information to calculate the gross profit for the year 2019. Magio Company data Revenue and Expenses Sales revenue Cost of Goods Sold Operating expenses Amount $864,183 $496,357 $196,815

Blossom Medical manufactures hospital beds and other institutional furniture. The company’s comparative balance sheet and income statement for 2019 and 2020 follow. Blossom MedicalComparative Balance SheetAs of December 31     2020   2019   Assets           Current assets             Cash   $352,000   $417,400     Accounts receivable, net   1,000,000   776,400     Inventory   717,000   681,000     Other current assets   381,300   247,000   Total current assets   2,450,300   2,121,800   Property, plant, & equipment, net   8,766,170   8,440,100     Total assets   $11,216,470   $10,561,900               Liabilities and Stockholders’ Equity           Current liabilities   $3,155,000   $2,846,000   Long-term debt   3,702,600   3,892,600     Total liabilities   6,857,600   6,738,600   Preferred stock, $5 par value   58,900   58,900   Common stock, $0.25 par value   104,600   103,800   Retained earnings   4,195,370…

Just Beachy is a retail business located on the coast of Florida where it sells a variety of beach apparel, T-shirts, and beach-related souvenir items. They purchase all of their inventory from wholesalers and distributors. For the year ending December 31, 2017, they reported the following revenues and expenses. Sales revenue $665,000 Building rent 46,000 Advertising 52,000 Sales staff salaries 83,000 Cost of goods sold 305,000 Utilities 25,000 Supplies. 9,000 Using this information, prepare an income statement for Just Beachy for 2017. Just Beachy Income Statement "For Year Ending 2017 Previous Next

The following is the Room Department Statement of profit for  Calm Shore Hotel  for the year 31 December 2023.   Revenue                                                           $                   $                     $ Room Sales                                                                          800,000 Allowances                                                                                2,500 Net Revenue                                                                                              797,500 Expenses           Salaries & Wages                                   100,000           Employee Benefits                                   23,000                      Total Payroll & related expenses                       77,000           Other Expenses                      Commissions                        2,000                      Contract Cleaning                           5,000                      Laundry & Dry Cleaning                   6,500…

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