Mod3

GRADE A STEAK COMPANY

Income Statement

Quarter Ended April 30, 2015

Revenues:

Net Sales Revenue

Interest Revenue

Total Revenues

Expenses:

Cost of Goods Sold

Rent Expense (Selling)

Utilities Expense (Selling)

Delivery Expense (Selling)

Depreciation Expense—Equipment (Administrative)

Utilities Expense (Administrative)

Rent Expense (Administrative)

Interest Expense

Total Expenses

Net Income

$ 70,700

GRADE A STEAK COMPANY

Income Statement

Quarter Ended April 30, 2015

Sales Revenue

Less: Sales Returns and Allowances

Sales Discounts

Net Sales Revenue

Cost of Goods Sold

Gross Profit

Operating Expenses:

Selling Expenses:

Rent Expense

21,780

Utilities Expense

Delivery Expense

Total Selling Expenses

36,300

Administrative Expenses:

Depreciation Expense—Equipment

Utilities Expense

Rent Expense

Total Administrative Expenses

Total Operating Expenses

52,600

Operating Income

Other Revenues and (Expenses):

Interest Revenue

Interest Expense

Total Other Revenues and (Expenses)

(1,200)

Net Income