Merchandising Company
Income Statement:
Sales Revenue $93,400
Less: Cost of Goods Sold $45,400
Gross Profit $48,000
Less: Selling Expenses $20,600
Less: Administrative Expenses $15,700
Net Income $11,700
Company Y
Service Company
Income Statement:
Service Revenue $35,700
Less: Wages Expense $10,300
Less: Rent Expense $7,000
Less: Utilities Expense $2,400
Net Income $16,000
Company Z
Manufacturing Company
Income Statement:
Sales Revenue $222,400
Less: Cost of Goods Manufactured $108,800
Gross Profit $113,600
Less: Cost of Goods Sold $98,600
Less: Selling Expenses $50,100
Less: Administrative Expenses $41,100
Net Income $24,800