Revenue and expense data for Young Technologies are as follows:
$\begin{array}{|l|l|l|}
\hline &2012 & 2011 \
\hline \text { Sales } & \$ 500,000 & \$ 440,000 \
\hline \text { Cost of goods sold } & 325,000 & 242,000 \\hline \text { Selling expense } & 70,000 & 79,200 \
\hline \text { Administrative expenses } & 75,000 & 70,400 \
\hline \text { Income tax expense } & 10,500 & 16,400 \
\hline
\end{array}$
Required:

Question

Revenue and expense data for Young Technologies are as follows:
 $\begin{array}{|l|l|l|}
\hline &2012 & 2011 \
\hline \text { Sales } & \$ 500,000 & \$ 440,000 \
\hline \text { Cost of goods sold } & 325,000 & 242,000 \\hline \text { Selling expense } & 70,000 & 79,200 \
\hline \text { Administrative expenses } & 75,000 & 70,400 \
\hline \text { Income tax expense } & 10,500 & 16,400 \
\hline
\end{array}$ 
Required:

Quizplus · Accepted Answer

The Answer of Revenue and expense data for Young Technologies are as follows:
 $\begin{array}{|l|l|l|}
\hline &2012 & 2011 \
\hline \text { Sales } & \$ 500,000 & \$ 440,000 \
\hline \text { Cost of goods sold } & 325,000 & 242,000 \\hline \text { Selling expense } & 70,000 & 79,200 \
\hline \text { Administrative expenses } & 75,000 & 70,400 \
\hline \text { Income tax expense } & 10,500 & 16,400 \
\hline
\end{array}$ 
Required:

Revenue and Expense Data for Young Technologies Are as Follows