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Prepare an income statement for charlies pets

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Reference no: EM13528551

In 2012 Charlie Snyder opened Charlie's Pets, a small retail shop selling pet supplies. On December 31, 2012, Charlie's accounting records showed the following:

Inventory on December 31, 2012 .......... $ 10,200
Inventory on January 1, 2012 ................ 15,100
Sales revenue .................................. 57,000
Utilities for shop ................................ 3,900
Rent for shop .................................... 4,100
Sales commissions .............................. 2,150
Purchases of merchandise ..................... 27,000

Requirement

1. Prepare an income statement for Charlie's Pets, a merchandiser, for the year ended December 31, 2012.

Reference no: EM13528551

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