Parker Pool Supply,Inc.reported the following items for the year ended December 31,2010:
$$\begin{array} { l r }
\text { Wages and salary expense } & \$ 527,000 \
\text { Cost of goods sold } & 1,124,000 \
\text { Rent expense } & 395,000 \
\text { Sales revenue } & 2,564,000 \
\text { Interest expense } & 30,000 \
\text { Income tax expense } & 121,000 \
\text { Accounts receivable } & 27,000
\end{array}$$ Requirements:
Prepare an income statement for the year ended December 31,2010.

Question

Parker Pool Supply,Inc.reported the following items for the year ended December 31,2010:
 $$\begin{array} { l r } 
\text { Wages and salary expense } & \$ 527,000 \
\text { Cost of goods sold } & 1,124,000 \
\text { Rent expense } & 395,000 \
\text { Sales revenue } & 2,564,000 \
\text { Interest expense } & 30,000 \
\text { Income tax expense } & 121,000 \
\text { Accounts receivable } & 27,000
\end{array}$$ Requirements:
Prepare an income statement for the year ended December 31,2010.

Quizplus · Accepted Answer

The Answer of Parker Pool Supply,Inc.reported the following items for the year ended December 31,2010:
 $$\begin{array} { l r } 
\text { Wages and salary expense } & \$ 527,000 \
\text { Cost of goods sold } & 1,124,000 \
\text { Rent expense } & 395,000 \
\text { Sales revenue } & 2,564,000 \
\text { Interest expense } & 30,000 \
\text { Income tax expense } & 121,000 \
\text { Accounts receivable } & 27,000
\end{array}$$ Requirements:
Prepare an income statement for the year ended December 31,2010.

Parker Pool Supply,Inc Requirements: Prepare an Income Statement for the Year Ended December

Parker Pool Supply,Inc Requirements:
Prepare an Income Statement for the Year Ended December