Income statement preparation

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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?

Reference no: EM131014236

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