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Prepare famfa inc income statement

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Reference no: EM132877732

Question - You have been provided the following information for FAMFA Inc (a retail company) for the year ending December 31, 2015.

Interest expense $17,090

Beginning Inventory $63,210

Depreciation Expense $12,510

Management salaries $17,950

Advertisng expense $12,930

Ending Inventory $68,390

Gross sales $462,720

Taxes $3,270

Returns and allowances $10,210

Lease payments $39,270

Materials purchases $228,580

R & D expenditures $4,890

Repairs and maintenance costs $2,910

Required - Prepare FAMFA Inc's income statement for 2015?

Reference no: EM132877732

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