Swirzoff Company Sells Office Supplies Required: Prepare an Income Statement for Swirzoff Company,a Merchandiser,for the Activities

Essay

Swirzoff Company sells office supplies.The following information summarizes Swirzoff's operating activities for the past year:
$$\begin{array} { | l | r | } \hline \text { Utilities for stare } & 6,000 \\\hline \text { Rent for stare } & 8,000 \\\hline \text { Sales comris sions } & 4,500 \\\hline \text { Purchases af merchandise } & 54,000 \\\hline \text { Inventory, ending } & 20,500 \\\hline \text { Inventary, beginging } & 30,000 \\\hline \text { Sales revenue } & 108,000 \\\hline\end{array}$$ Required: Prepare an income statement for Swirzoff Company,a merchandiser,for the year ended December 31.