Help Save text Hetried Cox owner of Cox Video Center , sent the Income statement shown below to several of his creditors who had asked for financial….
I don’t really understand what I’m looking for. Could someone please help me understand enough where I am able to make a new income statement please.
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Help Save textHetried Cox owner of Cox Video Center , sent the Income statement shown below to several of his creditors who had asked forfinancial Statements The business is a sole proprietorship that sells audio and other electronic equipment One of the creditors bookletover the meetme statement and reported that I did not conform to generally accepted accounting principlesCox Video CenterIncome 5 attomentDecember 31 . 2819Cash Collected row CustomersSAYS , ONECost of Good soldMerchandise Inventory , JanANDPayments to SuppliersAND31 360Last Merchandise Inventory , Dec . 3180Cost of Goods sold436 985Gross Profit on Sale289 080Operating ExpensesSalaries of EmployeesSalary of Owe1 208Office Expense$2 , BADDepreciation ExpenseIncome Tax of OwnerevePayroll Taxes ExpenseAdvertising and other Selling Expense23 , SHAHRepaint Expense13 090Ink Manee FinancePREYto search