Chapter 13, Problem 3E

The worksheet of Bridget’s Office Supplies contains the following revenue, cost, and expense accounts. Prepare a classified income statement for this firm for the year ended December 31, 2019. The merchandise inventory amounted to $59,775 on January 1, 2019, and $52,725 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses.

ACCOUNTS