for the year ended 30 November 2011 $6 800 000 Sales revenue Cost of sales Beginning inventory Purchases $2 000 000 4300 000 Goods available for sale 6 300 000 | 400 000 Ending inventory 4900 000 1 900 000 Cost of sales Gross profit Expenses Selling expenses Administrative expenses 450 000 I 050 000 $ 850 000 600 000 Profit Additional information: 1. Accounts receivable decreased S230 000 during the year. 2. Prepaid expenses increased $150000 during the year. 3. Accounts payable to suppliers of inventory decreased $200 000 during the year. 4. Accrued expenses payable decreased $100 000 during the year. 5. Administrative expenses include depreciation expense of $90 000.

for the year ended 30 November 2011 $6 800 000 Sales revenue Cost of sales Beginning inventory Purchases $2 000 000 4300 000 Goods available for sale 6 300 000 | 400 000 Ending inventory 4900 000 1 900 000 Cost of sales Gross profit Expenses Selling expenses Administrative expenses 450 000 I 050 000 $ 850 000 600 000 Profit Additional information: 1. Accounts receivable decreased S230 000 during the year. 2. Prepaid expenses increased $150000 during the year. 3. Accounts payable to suppliers of inventory decreased $200 000 during the year. 4. Accrued expenses payable decreased $100 000 during the year. 5. Administrative expenses include depreciation expense of $90 000.

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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