Scribd
Upload
4K views2 pages

Chapter 8-Problem 10

Ramon Woo Milk Products' income statement for the first half of 2018 shows net sales of $702,570, with a cost of goods sold of $362,240, resulting in a gross profit of $340,130. Total operating expenses were $249,600, giving an operating profit of $90,530. After deducting $5,400 in finance costs, the net profit for the period was $85,130.

Uploaded by

kakao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
4K views2 pages

Chapter 8-Problem 10

Ramon Woo Milk Products' income statement for the first half of 2018 shows net sales of $702,570, with a cost of goods sold of $362,240, resulting in a gross profit of $340,130. Total operating expenses were $249,600, giving an operating profit of $90,530. After deducting $5,400 in finance costs, the net profit for the period was $85,130.

Uploaded by

kakao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

Ramon Woo Milk Products

Income Statement
For the Half-Year Ended June 30, 2018
Net Sales
Gross Sales
Less: Sales Returns & Allowances
Sales Discounts
Net Sales
Cost of Goods Sold
Inventory, 1/1/2015
Purchases 364,000
Less: Purchase Returns & Allowance3,400
Purchase Discount 1,990 5,390
Net Cost of Purchases
Goods Available for Sale
Less:Inventory, 6/30/2015
Cost of Goods Sold
Gross Profit
Operating Expenses
Selling Expenses
Administrative Expenses
Total Operating Expense
Operating Profit
Finance Cost
Profit
Products
ment
June 30, 2018

731,000
18,030
10,400 28,430
702,570

69,350

358,610
427,960
65,520
362,240
340,130

132,900
116,700
249,600
90,530
5,400
85,130

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy