Reference no: EM132549159

Question 1: Preparing an income statement for the fiscal year of X wood company ends on march 31,2002. from the the following information prepare an income statement for the current year.

sales $1385720.

sales return and allowance....34643,

finished goods April, 31,2002....94310,

finished goods march,31,2003..98570,

costs of goods manufactured.....833270,

sales expense.....185417,

administrative expenses.....118823,

recovery from decreasing in allowance for reduction of inventory to market....18365,

provision for income taxes...98490