TEST 2 - EXERCISE45(035minutes(a MultipleStepForm P.BRIDECOMPANY IncomeStatement ,2014(Inthousands, Salesrevenue $96,500 Costofgoodssold 60,570

TEST 2 - EXERCISE45(035minutes(a MultipleStepForm...

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EXERCISE 4-5 (0–35 minutes) (a) Multiple-Step Form P. BRIDE COMPANY Income Statement For the Year Ended December 31, 2014 (In thousands, except earnings per share) Sales revenue ...................................................... $96,500 Cost of goods sold .............................................   60,570 Gross profit ......................................................... 35,930 Operating Expenses       Selling expenses             Sales commissions ................................. $7,980             Depr. of sales equipment ....................... 6,480             Delivery expense .....................................   2,690 $17,150       Administrative expenses             Officers’ salaries .....................................
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