Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger

Exercise 58

Jasper Company provided the following information for last year:
Last year, beginning and ending inventories of work in process and finished goods equaled zero.
Income Statement
Refer to the information for Jasper Company on the previous page.
Required:
Prepare an income statement for Jasper for last year. Calculate the percentage of sales for each line item on the income statement. ( Note: Round percentages to the nearest tenth of a percent.)