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Unformatted text preview: 450,000.00 2) Skyler Company Income Statement For the Month Ended June 30 Sales $600,000.00 Cost of Goods Sold 410,000.00 Gross Margin 190,000.00 Selling and Administrative Expenses Salaries 35,000.00 Rent 8,000.00 Insurance 2,000.00 Utilities 5,000.00 Depreciation 10,000.00 Advertising 80,000.00 140,000.00 Net Operating Income $ 50,000.00 3) When the income statement is prepared correctly, it shows that Skyler Company has made a $60,000 profit for the month of June. Based on this, I would recommend that the company continue operations....
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This note was uploaded on 11/16/2009 for the course ACCT 152 taught by Professor Bayak during the Spring '07 term at Lehigh University .
- Spring '07
- Managerial Accounting