- company’s multi-step income statement for the year ended 12/31/18.
- the retained earnings statement for the year ended 12/31/18.
- the classified balance sheet dated 12/31/18.
- Give me a simple sentence about what your business sells. It can be stated before or after the financial statements.
The company is the Freemans Merchandizing that has a
200,000 in COGS
net sales 850,000
2,500 in depreciation on equipment
2,000 operating expense
600 advertising expense
rent expense of 1,500
supplies expense 5,000
common stock 2,000
100,000 salary expense
interest expense 11,000
utilities expense 50,000