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Construct a Profit and Loss Statement for Best Lamps

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Reference no: EM133176850

Question - Construct a Profit and Loss Statement for "Best Lamps from California Company" from June 15, 2020 through January 15, 2021 with the following information:

Sales of Lamps: $450,000

Sales of Bulbs: 30,000

Sales of Wire: 20,000

Salary paid; 100,000

Commission paid: 50,000

Rent of Factory: 80,000

Other Expense: 20,000

Purchase of Material 120,000

Tax 25% of Gross Profit.

Reference no: EM133176850

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