In August, Clarey Corporation, a manufacturing company, reported the following financial data:
The company had no beginning or ending inventories.
Required:
a. Prepare an income statement in good form for August using the traditional approach.
b. Prepare an income statement in good form for August using the contribution approach.

Question

In August, Clarey Corporation, a manufacturing company, reported the following financial data:  
The company had no beginning or ending inventories.
Required:
a. Prepare an income statement in good form for August using the traditional approach.
b. Prepare an income statement in good form for August using the contribution approach.

Quizplus · Accepted Answer

The Answer of In August, Clarey Corporation, a manufacturing company, reported the following financial data:  
The company had no beginning or ending inventories.
Required:
a. Prepare an income statement in good form for August using the traditional approach.
b. Prepare an income statement in good form for August using the contribution approach.

In August, Clarey Corporation, a Manufacturing Company, Reported the Following