1. Prepare a traditional income statement for the quarter ended December 31. 2. prepare a...
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1. Prepare a traditional income statement for the quarter ended December 31.
2. prepare a contribution format income statement for quarter ended December 31.
i will need step by step explanation plus answer thanks.
Winter Leisure is a retailer of snowboards. The Information below is for the quarter ended December 31: Amount $1,023,800 Bie Total sales revenue Selling price per snowboard Variable selling exporke per chboard Variable administrative expusa per saboard Total fixed selling expense Total Fixed administrative expense Merchandise inventory, beginning balance Marchandise inventory, Mding balance Merchandise purchases 38 5 10 $ 258,888 5 238, cee 1. Bee 5 111, see 358,888 Required: 1. Prepare a traditional Income statement for the quarter ended December 31. Winter Leigur Traditional income statement Quantar onded December 31 Salas 5 1,023,000 330.000 693000 Cast of goods sold Gross margin Selling and ndministrativa expans: Administrativa xonas | Saling expuses Orating income 5 263.000 369.000 16222 000 5 71000 2. Pressa cont button format income statement for the querer endee December 31. Wher Lolcu Contribution Format Inoems statement Quanto anged becamber 7
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