FM Company
Statement of Comprehensive Income
For the Year Ended December 31, 2017

Net
Sales
15,000,
Sales 000
Less: Sales Returns & 150,00
Allowances 0
Sales 80,000
Discounts
80,000 310,000
Freight
Net Sales 14,690,
000
Cost of Sales
Merchandise Inventory, 2,000,0
Jan. 1 00
Purchase 7,000,0
00
Less: Purchase Returns & 160,00
Allowances 0
Purchase 100,00 260,000
Discounts 0
Net 6,740,0
Purchase 00
Freight in 120,000
Net Cost of 6,860,0
Purchases 00
Goods Available 8,860,0
for Sale 00
Less: Merchandise 2,000,0
Inventory, Dec. 31 00
Cost of 6,860,0
Sales 00
Gross Profit 7,830,0
00

Operating Expenses:
Selling
Expenses
Sales 700,000
Salaries
Store 100,000
Supplies
Salesman 100,000
Commission
Depreciation expense- Store 180,000
equipment
Total 1,080,0
Selling Expenses 00
Administrative
Expenses
Office 600,000
Salaries
Office Supplies 150,000
Depreciation
Expenses:
500,000
Building
Office 300,000
Equipment
Total 1,550,0
Administrative Expenses 00
Total Operating 2,630,0
Expenses 00
Other Income &
Expenses:
Interest 60,000
Income
Interest -20,000
Expense
Loss from -10,500
lawsuit
Total of other income & 29,500
expenses
Net Income Before 5,229,5
Tax 00
Less: Income tax 1,568,8
expense 50

Net Income                   3,660,6

50