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Income statement preparation prepare an income statement in


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Income Statement Preparation:

Prepare an Income Statement, in proper format, for 2015 for Johnson Medical Supplies (JMS) from the following information:

Salaries                        $70,000

Insurance                            $700

Utilities                           $3,500

Gas/Auto                         $5,750

Office Supplies               $7,250

Revenue                      $175,000

Rent                            $12,000

Maintenance                $50,000

Calculate the operating expenses, operating profit, and profit percentage.

Did JMS have a good year? Why/Why not?

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Financial Management: Income statement preparation prepare an income statement in
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