Macon Company supplied the following data and information on inventories at the end of the current year.
$\begin{array}{lr}
\text { Direct labor } & \$ 0,000 \
\text { Selling expenses } & 31,000 \
\text { Sales revenue } & 400,000 \
\text { Administrative expenses } & 14,500 \
\text { Purchases of raw materials } & 62,000 \
\text { Factory supervision } & 50,000 \
\text { Factory supplies used } & 25,000
\end{array}$ Required: Prepare an income statement of Macon Company for the current year.

Question

Macon Company supplied the following data and information on inventories at the end of the current year.
   $\begin{array}{lr}
\text { Direct labor } & \$ 0,000 \
\text { Selling expenses } & 31,000 \
\text { Sales revenue } & 400,000 \
\text { Administrative expenses } & 14,500 \
\text { Purchases of raw materials } & 62,000 \
\text { Factory supervision } & 50,000 \
\text { Factory supplies used } & 25,000
\end{array}$ Required: Prepare an income statement of Macon Company for the current year.

Quizplus · Accepted Answer

The Answer of Macon Company supplied the following data and information on inventories at the end of the current year.
   $\begin{array}{lr}
\text { Direct labor } & \$ 0,000 \
\text { Selling expenses } & 31,000 \
\text { Sales revenue } & 400,000 \
\text { Administrative expenses } & 14,500 \
\text { Purchases of raw materials } & 62,000 \
\text { Factory supervision } & 50,000 \
\text { Factory supplies used } & 25,000
\end{array}$ Required: Prepare an income statement of Macon Company for the current year.

Macon Company Supplied the Following Data and Information on Inventories