Sales

Less:
Cost of Goods Sold
Gross Profit
Less:
Operating expenses:
General and administrative expenses

Selling expenses

Operating Income
Other Income
Other expenses
Net Income
Gross Sales 1,242,600
Sales Return and Allowance 27,800
Sales Discount 460
Net Sales 1,214,340
Cost of Goods Sold 878,774
Gross Income 335,566
Operating expenses:
Salaries 210,000
Advertising 5,860
Rent 25,000
Miscellaneous Selling Expenses 150
Miscellaneous General Expenses 9,660
Selling Expenses 7,500
Bad Debts Expenses 18,230
Depreciation Expenses 3,000
Insurance Expense 6,200
Cash Disbursement 10,127
Income from Operations 39,839
Store Supplies Expense 1,600
Office Supplies Expense 2,290
Advertising Expense 1,500
Net Income 34,449
 Juan Wagwag Clothes
Balance Sheet
September 30

Gross Sales 1,242,600

Sales Return and Allowance 27,800
Sales Discount 460
Net Sales 1,214,340
Cost of Goods Sold 878,774
Gross Income 335,566
Operating expenses:
General and Administrative Expense:
Salaries Expense 210,000
Rent Expense 25,000
Miscellaneous General Expenses 9,660
Bad Debts Expenses 18,230
Depreciation Expenses 3,000
Insurance Expense 6,200
Selling Expense:
Advertising 5,860
Miscellaneous Selling Expenses 150
Selling Expenses 7,500
Store Supplies Expense 1,600
Office Supplies Expense 2,290
Advertising Expense 1,500
Income from Operations 39,839
Cash Disbursement 10,127
Net Income 34,449
1,179,891