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question 6

In 2011 ClydeClydeRenkasRenkasopened Clydes Pets a small retail shop selling pet supplies.On December 31,2011,, Clyde’saccounting records showed the following

Inventory on December 31, 2011


Inventory on January 1, 2011


Sales revenue


Utilities for shop


Rent for shop


Sales commissions


Purchases of merchandise




(Click the icon to view the accounting records.)

Requirement 1. Prepare an income statement for

Clyde’s PetsClyde’s Pets,

a merchandiser, for the year ended December 31, 2011.

 Save Accounting Table…  +  Copy to Clipboard…  +

Clyde’s Pets

Income Statement

Year Ended December 31, 2011

Cost of goods sold:

Cost of goods sold

Gross profit

Operating expenses:


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