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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
Amber Corporation has provided the following information of its operating activities for the year:

Merchandise Inventory, January 1   $150,000
Merchandise Inventory, December 31   75,000
Purchases   854,000
Selling and Administrative Expenses   65,000
Sales Revenue   1,000,000

Required: Prepare Amber's income statement for the year ended December 31. Use the format provided below:

Sales Revenue      
Cost of Goods Sold      
    Beginning Inventory      
    Purchases      
    Cost of Goods Available for Sale      
    Ending Inventory      
Cost of Goods Sold      
Gross Profit      
Selling and Administrative Expenses      
Operating Income
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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TanksTanks
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8 years ago
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H3Ko Author
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#2
8 years ago
I just realized you had posted this! Thanks so much
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