The income statement for Cutting Edge Manufacturing, Inc. for the year December 31 , 2016 if gross sales are $ 1 , 356 , 000 , sales returns and allowances are $ 93 , 100 , sales discount is $ 4 , 268 , merchandise inventory Jan , 1 , 2016 , $ 324 , 800 , merchandise inventory Dec .31 , 2016 , $ 179 , 100 , net purchases are $ 255 , 320 , freight in is $ 3 , 911 , salaries are $ 375 , 900 , rent is $ 166 , 000 , utilities are $ 7 , 730 , advertising is $ 73 , 300 , insurance is $ 22 , 940 , administrative expense is $ 84 , 500 , miscellaneous expenses are $ 24 , 900 and income tax is $ 34 , 760 .

Question

Want to see the full answer?

Answer 1

Question

Chapter 15.II, Problem 4TIE

To determine

To calculate: The income statement for Cutting Edge Manufacturing, Inc. for the year December 31,2016 if gross sales are $1,356,000, sales returns and allowances are $93,100, sales discount is $4,268, merchandise inventory Jan,1,2016,$324,800, merchandise inventory Dec.31,2016,$179,100, net purchases are $255,320, freight in is $3,911, salaries are $375,900, rent is $166,000, utilities are $7,730, advertising is $73,300, insurance is $22,940, administrative expense is $84,500, miscellaneous expenses are $24,900 and income tax is $34,760.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

(b) In various places in this module, data on the silver content of coins minted in the reign of the twelfth-century Byzantine king Manuel I Comnenus have been considered. The full dataset is in the Minitab file coins.mwx. The dataset includes, among others, the values of the silver content of nine coins from the first coinage (variable Coin1) and seven from the fourth coinage (variable Coin4) which was produced a number of years later. (For the purposes of this question, you can ignore the variables Coin2 and Coin3.) In particular, in Activity 8 and Exercise 2 of Computer Book B, it was argued that the silver contents in both the first and the fourth coinages can be assumed to be normally distributed. The question of interest is whether there were differences in the silver content of coins minted early and late in Manuel’s reign. You are about to investigate this question using a two-sample t-interval. (i) Using Minitab, find either the sample standard deviations of the two variables…

5. (a) State the Residue Theorem. Your answer should include all the conditions required for the theorem to hold. (4 marks) (b) Let y be the square contour with vertices at -3, -3i, 3 and 3i, described in the anti-clockwise direction. Evaluate に dz. You must check all of the conditions of any results that you use. (5 marks) (c) Evaluate L You must check all of the conditions of any results that you use. ཙ x sin(Tx) x²+2x+5 da. (11 marks)

3. (a) Lety: [a, b] C be a contour. Let L(y) denote the length of y. Give a formula for L(y). (1 mark) (b) Let UCC be open. Let f: U→C be continuous. Let y: [a,b] → U be a contour. Suppose there exists a finite real number M such that |f(z)| < M for all z in the image of y. Prove that < ||, f(z)dz| ≤ ML(y). (3 marks) (c) State and prove Liouville's theorem. You may use Cauchy's integral formula without proof. (d) Let R0. Let w € C. Let (10 marks) U = { z Є C : | z − w| < R} . Let f UC be a holomorphic function such that 0 < |ƒ(w)| < |f(z)| for all z Є U. Show, using the local maximum modulus principle, that f is constant. (6 marks)