Please prepare the Income Statement and Cash Flow Statement. Thanks

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Please prepare the Income Statement and Cash Flow Statement. Thanks!
Account
Credit (P)
Interest Expense
Sales Return and
Allowances
Administrative Expenses
Sales
Selling Expenses
Cost of Sales
Sales Discount
5,050.00
17, 680.00
43, 450.00
719,450.00
175,410.00
346,189.00
10,050.00
Assume further that the initial investment of Mr. Monty is 300,000.00 cash. He made
cash withdrawals for his personal use amounting to 25,000.00.
Transcribed Image Text:Account Credit (P) Interest Expense Sales Return and Allowances Administrative Expenses Sales Selling Expenses Cost of Sales Sales Discount 5,050.00 17, 680.00 43, 450.00 719,450.00 175,410.00 346,189.00 10,050.00 Assume further that the initial investment of Mr. Monty is 300,000.00 cash. He made cash withdrawals for his personal use amounting to 25,000.00.
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