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Newman Department Store

Newman Department Store - Selling Expenses $35,000...

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Newman Department Store Multiple Step Income Statement For the Year that Ended December 31, 2003 Sales $340,000 Less: Sales Discounts $22,000 Net Sales $318,000 Cost of Goods Sold $240,000 Gross Profit $78,000 Operating Expenses:
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Unformatted text preview: Selling Expenses $35,000 Administrative Expenses $25,000 $60,000 Income from Operation $18,000 Other Revenues and Gains: Interest Revenue $800 Other Expenses and Losses: Interest Expense $1,000 Net Income $17,800...
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