Please see the picture below. I need help making a retained earnings statement, a balance sheet, a comprehensive income statment, and calculate the profit margin and the gross profit rate for the income statement I've included. Jacob's Footwear Inc. For the month ended February 28, 2022 Sales Revenue - $828,000 Salaries and Wages Expense - $20,000 Rent Expense - $10,000 Insurance Expense - $8,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Please see the picture below. I need help making a retained earnings statement, a balance sheet, a comprehensive income statment, and calculate the profit margin and the gross profit rate for the income statement I've included.

Jacob's Footwear Inc.

For the month ended February 28, 2022

Sales Revenue - $828,000

Salaries and Wages Expense - $20,000

Rent Expense - $10,000

Insurance Expense - $8,000

Freight-Out - $5,000

Income Tax Expense - $2,000

Cost of Goods Sold - $32,000

Gains on Disposal of Plant Assets - $200

Interest Expense - $600

Jacob's Footwear Inc.
Income Statement
For the Month Ending February 28,2022
Particular
Debit($)
Credit($)
Sales Revenue
828,000
Less: Cost of Goods Sold
(32,000)
Gross Margin
796,000
Operating Expenses
Salaries and Wages Expense
(20,000)
Rent Expense
(10,000)
Insurance Expense
(8,000)
Freight Out
5,000
Total Operating Expenses
(43,000)
Other Revenues and Expenses
200
Gains on Disposal of Plant Assets
Interest Expense
(600)
(400)
Total of Other Expenses
752,600
Net Income Before Taxes
(2,000)
Income Tax Expense
750,600
Net Income
Transcribed Image Text:Jacob's Footwear Inc. Income Statement For the Month Ending February 28,2022 Particular Debit($) Credit($) Sales Revenue 828,000 Less: Cost of Goods Sold (32,000) Gross Margin 796,000 Operating Expenses Salaries and Wages Expense (20,000) Rent Expense (10,000) Insurance Expense (8,000) Freight Out 5,000 Total Operating Expenses (43,000) Other Revenues and Expenses 200 Gains on Disposal of Plant Assets Interest Expense (600) (400) Total of Other Expenses 752,600 Net Income Before Taxes (2,000) Income Tax Expense 750,600 Net Income
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