carmen communications reported the following figures from its adjusted trial balance. prepare carmen…

carmen communications reported the following figures from its adjusted trial balance. prepare carmen communications multi - step income statement for the year ended july 31, 2025. accounts and balances: cash: $3,500, selling expenses: 2,000, accounts payable: 5,300, common stock: 1,540, notes payable, long - term: 900, merchandise inventory: 600, administrative expenses: 3,600, sales returns and allowances: 0,000, cost of goods sold: 18,600, equipment, net: 13,500, accrued liabilities: 1,700, sales revenue: 49,000, accounts receivable: 3,500, interest expense: 40, sales discounts: 4,700. carmen communications income statement year ended july 31, 2025 net sales revenue, cost of goods sold: 18,600, gross profit, operating expenses: selling expenses: 2,000, administrative expenses: 3,600, total operating expenses: 5,600, operating income, other income and (expenses): interest expense: (40), total other income and (expenses): (40), net income (loss)

carmen communications reported the following figures from its adjusted trial balance. prepare carmen communications multi - step income statement for the year ended july 31, 2025. accounts and balances: cash: $3,500, selling expenses: 2,000, accounts payable: 5,300, common stock: 1,540, notes payable, long - term: 900, merchandise inventory: 600, administrative expenses: 3,600, sales returns and allowances: 0,000, cost of goods sold: 18,600, equipment, net: 13,500, accrued liabilities: 1,700, sales revenue: 49,000, accounts receivable: 3,500, interest expense: 40, sales discounts: 4,700. carmen communications income statement year ended july 31, 2025 net sales revenue, cost of goods sold: 18,600, gross profit, operating expenses: selling expenses: 2,000, administrative expenses: 3,600, total operating expenses: 5,600, operating income, other income and (expenses): interest expense: (40), total other income and (expenses): (40), net income (loss)

Answer

Explanation:

Step1: Calculate net sales revenue

Net sales revenue = Sales revenue - Sales returns and allowances - Sales discounts. Given Sales revenue = 49000, Sales returns and allowances = 0, Sales discounts = 4700. So, Net sales revenue = 49000 - 0 - 4700 = 44300.

Step2: Calculate gross profit

Gross profit = Net sales revenue - Cost of goods sold. Given Net sales revenue = 44300, Cost of goods sold = 18600. So, Gross profit = 44300 - 18600 = 25700.

Step3: Calculate operating income

Operating income = Gross profit - Total operating expenses. Given Gross profit = 25700, Total operating expenses = 5600. So, Operating income = 25700 - 5600 = 20100.

Step4: Calculate net income

Net income = Operating income - Total other income and (expenses). Given Operating income = 20100, Total other income and (expenses)= - 40. So, Net income = 20100-(- 40)=20140.

Answer:

Net Sales Revenue: 44300 Gross Profit: 25700 Operating Income: 20100 Net Income: 20140