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Unformatted text preview: cost of goods sold under expenses. Music World Income Statement For the Year Ended June 30,20X3 Revenues Net Sales $1,172,000 Interest Income 7,500 Gain on Sale of Equipment 1,500 Total Revenues 1,181,000 Expenses Cost of Goods Sold $596,600 Selling Expenses 177,000 General and Administrative Expenses 152,900 Interest Expense 18,000 Total Expenses 944,500 Net Income $ 236.500...
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This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.
- Fall '10