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?