Question

What type of income statement does the Company Prepare? How can you tell? Statement of Income...

What type of income statement does the Company Prepare? How can you tell?

Statement of Income
For the month ended January 31
2018
Sales Revenue $381,000
Cost of Goods Sold:                 216,000
Gross Profit Margin                 165,000
Operating expenses
Depreciation expense                       308
Rent expense                    1,250
Wages expense                  27,200
Total operating expenses                  28,758
Operating income
Other Revenues and Expenses
Service Revenue                  19,167
Total Other Revenues and Expense                  19,167
Income before tax                 155,408
Income tax expense                  34,000
Net Income (Loss):                 121,408

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