The Fun Zone sells a variety of children's toys, games, books, and accessories. Assume that a local st
the month of March 2024.
Sales revenue
Advertising expense
Rent expense
Gain on sale of building
Inventory (March 1, 2024)
Cost of goods sold
$ 75,800 Inventory (March 31, 2024)
6,100 Insurance expense
4,000 Sales discounts
7,200 Salaries expense
2,650 Income tax expense
35,650
$ 1,000
2,150
2,850
9,100
3,900
Required:
1. Prepare a multiple-step income statement for the month ended March 31, 2024.
2. Calculate the gross profit ratio for the month of March.
Complete this question by entering your answers in the tabs below.
Required 1
Prepare a multiple-step income statement for the month ended March 31, 2024.
THE FUN ZONE
Multiple-Step Income Statement
For the Month of March, 2024
Net sales:
Total sales revenue
Net sales revenue
Operating expenses:
Total
Operating income
Nonoperating items:
Total
0
