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Accounts
Balance
Interest expense
16,000
Depreciation expense, admin.
7,380
Sales telephone expense
13,850
Cost of Goods Sold
886,270
Sales returns and allowances
62,300
Sales commissions expense
92,600
Salespersons' salaries
46,260
Sales Revenue
1,543,000
Salespersons' travel
28,800
Delivery expense
21,400
Depreciation - sales
11,180
Sales Discounts
31,150
Miscellaneous selling expenses
11,765
Maintenance and repairs
9,130
Property tax expense, admin
7,320
Supplies expense, admin.
8,450
Administration telephone
4,820
Office expenses, admin.
6,000
Dividends received
38,000
Income tax expense
97,000
Depreciation understatement due to error - 2011 (net of tax)
13,300
Dividends declared on preferred stock
12,000
Dividends declared on common stock
34,500
The balance in Retained Earnings at July 1, 2013 was
337,000
The number of shares of common stock outstanding is
80,000
In the space below, prepare the following statements for the year ended June 30, 2014:
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