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How to set up a profit and loss statement

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Reference no: EM132577540

Question 1: Set up a profit and loss statement, showing dollar amounts only, using the following figures: Gross sales $127,000 Closing inventory, at cost 29,000 Opening inventory, at cost 33,000 Miscellaneous expenses 5,000 Customer returns 6,000 Purchases, at cost 60,000 Rent and utilities 23,000 Payroll 30,000 Transportation charges 1,700 Cash discounts 8% Advertising 6,000

Reference no: EM132577540

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