| ABC Company
Income Statement Years Ending December 31, 199Z, 199Y, and 199X |
|||
|---|---|---|---|
| 199Z | 199Y | 199X | |
| Sales Activity | |||
| Sales | $X | $X | $X |
| (Sales Returns and Allowances) | (X) | (X) | (X) |
Net Sales |
$X | $X | $X |
| Cost of Goods Sold | |||
Beginning Inventory |
X | X | X |
Cost of Goods Purchased |
X | X | X |
(Ending Inventory) |
(X) | (X) | (X) |
Cost of Goods Sold |
$X | $X | $X |
| Gross Profit | $X | $X | $X |
| Expenses | |||
Selling Expense |
($X) | ($X) | ($X) |
General and Administrative Expense |
(X) | (X) | (X) |
Total Operating Expenses |
$X | $X | $X |
| Income from Operations | $X | $X | $X |
Interest Expense |
$X | $X | $X |
| Pretax Income | X | X | X |
Income Taxes |
(X) | (X) | (X) |
| Net Income | ($X) | ($X) | ($X) |