Manufacturing Firm Income Statement


Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price, and other selling expense of $65,000. Administrative expense totaled $53,800.


1. Prepare an income statement for Slapshot for the month of June


Sales revenue:


Cost of goods sold:


Gross margin:


Sellong expense:


Commisions:


Fixed selling expense:


Administrative expense:


Operating income: