1.
Having some trouble creating the income statement. Can someone please help!
Sales-
Cost of Goods Sold:
Finished goods inventory, Jan 1 2014-
Cost of goods manufactured-
Cost of finished goods available-
Less finished goods inventory-
Cost of Goods sold-
Gross Profit-
Operating Expenses:
Administrative expenses:
Office Salaries Expense-
Depreciation expense-office equipment-
Property taxes-office building-
Selling Expenses:
Advertising expense-
Sales salaries expense-
Total operating expenses:
Net income-

2.
Solution
The income statement is the small business owner