During 2021,  Blossom Inc. has the following account balances in Income Statement:   Sales 1,630,245 Cost of Sales 646,788 Selling Expense 235,500 Administrative Expense 114,766 Other Expense 57,146 Income Tax Expense 200,400 Other Revenue 65,800   What will be the Net income?

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Q: What is the net income from the following incor

A: Net Sales = Sales - Sales return = 12800 - 360 = 12440

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Q: profit margin.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is