Peters Brush Company sells standard hair brushes. The following information summarizes Peters's operating activities for 2018:
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Requirements
1. Calculate the operating income for 2018.
2. Peters sold 6,300 brushes in 2018. Compute the unit cost for one brush.
Requirement 1. Calculate the operating income for 2018.
Revenue:
Peters Brush Company
Income Statement
Year Ended December 31, 2018
Cost of Goods Sold:
Cost of Goods Sold
Gross Profit
Operating Income
1 Data Table
X
Selling and Administrative Expenses
$ 53,550
Purchases
76,860
Net Sales Revenue
157,500
Merchandise Inventory, January 1, 2018
10,080
Merchandise Inventory, December 31, 2018
1,890
Print Done