Rizzuto Company Supplied the Following Information for the Month of January

Essay

Rizzuto Company supplied the following information for the month of January. $\begin{array}{lr}\text { Cost of goods sold percentage } & 62 \% \\\text { Selling expense percentage } & 6 \% \\\text { Administrative expense } & 13 \%\end{array}$ Required: Reconstruct Rizzuto's Income Statement for January assuming that the total sales revenue for the month equalled $500,000.