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1.
Amount Percent Amount Percent
Sales 922,500$ 820,000$
Sales returns and allowances 22,500 20,000
Net sales 900,000$ 800,000$
Cost of goods sold 360,000 340,000
Gross profit 540,000$ 460,000$
Selling expenses 216,000$ 176,000$
Administrative expenses 81,000 72,000
Total operating expenses 297,000$ 248,000$
Income from operations 243,000$ 212,000$
Other income 135,000 92,000
Income before income tax 378,000$ 304,000$
Income tax 270,000 240,000
Net income 108,000$ 64,000$
2.
Score:
Key Code:
Instructions
Problem 15(14)-2A
Name:
Section:
0%
2014
2013
[Key essay answer here]
[Key code here]
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KASAY COMPANY
Comparative Income Statement
For the Years Ended December 31, 2014 and 2013
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1.
Amount Percent Amount Percent
Sales 922,500$ 102.5% 820,000$ 102.5%
For the Years Ended December 31, 2014 and 2013
KASAY COMPANY
Comparative Income Statement
2014
2013
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Instructions
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Problem 15(14)-2A
Name:
Solution
Section:
ON
