Please prepare tha income statement thanku
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please prepare tha income statement thanku
![[The following information applies to the questions displayed below.]
The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone
Company.
Advertising expense
Depreciation expense-Office equipment
Depreciation expense-Selling equipment
Depreciation expense-Factory equipment
Raw materials purchases (all direct materials)
Maintenance expense-Factory equipment
Factory utilities
Direct labor
Indirect labor
office salaries expense
Rent expense-Office space
Rent expense-selling space
Rent expense-Factory building
Sales salaries expense
Work in process inventory, ending
Finished goods inventory, beginning.
Finished goods inventory, ending
$ 178,000
183,000
53,000
$ 57,000
36,000
37,000
2,936,000
57,000
74,000
82,000
79,000
890,000
Using the following additional information for Leone Company, complete the requirements below.
Raw materials inventory, beginning
Raw materials inventory, ending
Work in process inventory, beginning
Sales
44,700
38,800
516,000
77,000
46,000
28,000
67,000
161,0
386,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F06f942a3-346a-4012-bbbf-46b1f598aed6%2F6b090cc7-52aa-48d5-ac5d-8c6411877332%2F8yck0zq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone
Company.
Advertising expense
Depreciation expense-Office equipment
Depreciation expense-Selling equipment
Depreciation expense-Factory equipment
Raw materials purchases (all direct materials)
Maintenance expense-Factory equipment
Factory utilities
Direct labor
Indirect labor
office salaries expense
Rent expense-Office space
Rent expense-selling space
Rent expense-Factory building
Sales salaries expense
Work in process inventory, ending
Finished goods inventory, beginning.
Finished goods inventory, ending
$ 178,000
183,000
53,000
$ 57,000
36,000
37,000
2,936,000
57,000
74,000
82,000
79,000
890,000
Using the following additional information for Leone Company, complete the requirements below.
Raw materials inventory, beginning
Raw materials inventory, ending
Work in process inventory, beginning
Sales
44,700
38,800
516,000
77,000
46,000
28,000
67,000
161,0
386,000
Transcribed Image Text:Required information
Cost of goods sold
Goods available for sale
Cost of goods sold
LEONE COMPANY
Income Statement
For Year Ended December 31
< Required 1
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