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The following income statement items, arranged in alphabetical order, are taken from the records of Shaw Corporation for the current year:
Advertising expense$1,549
Interest expense$1,397
Commissions expense2,234
Interest revenue1,343
Cost of goods sold29,283
Rent revenue7,045
Depreciation expense - office building3,049
Salaries and wages expense-office11,456
Income tax expense1,484
Sales revenue48,131
Insurance expense - salesperson's auto2,141
Supplies expense-office803
Required:
Assume that Shaw Corporation classifies all operating expenses into two categories: (1) selling and (2) general and administrative.
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