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Prepare a income statement for the company

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Question - The income statement account balances on December 31, 2013 for Janice Corporation appear below. In addition, beginning merchandise inventory was $3,000 and ending merchandise inventory was $4,000. Prepare a 2013 income statement for the company.

Account Name/ Balance

Sales $100,000

Sales Returns and Allowances $1,500

Purchases $50,000

Purchases Returns and Allowances $3,000

Freight- In $5,000

Selling Expense $ 25,000

General and Administrative Expenses$10,000

Income Taxes Expense $1,800

Reference no: EM131921184

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