15-2A_9e - 142,500 121,800 Gross profit $107,500 $88,200...

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Problem 15-2A Name: Section: Enter the appropriate amounts in the shaded cells below. A red asterisk (*) will appear to the right of an incorrect amount in the outlined cells. 1. DUSAN WATER SUPPLIES INC. Comparative Income Statement For the Years Ended December 31, 2008 and 2007 2008 2007 Amount Percent Amount Sales $255,000 $214,000 Sales returns and allowances 5,000 4,000 Net sales $250,000 $210,000 Cost of goods sold
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Unformatted text preview: 142,500 121,800 Gross profit $107,500 $88,200 Selling expenses $100,000 $50,400 Administrative expenses 20,000 16,800 Total operating expenses $120,000 $67,200 Income (loss) from operations ($12,500) $21,000 Other income 6,250 4,200 Income (loss) before income tax ($6,250) $25,200 Income tax expense (benefit) (2,500) 8,400 Net income (loss) ($3,750) $16,800 2. Percent...
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15-2A_9e - 142,500 121,800 Gross profit $107,500 $88,200...

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