Question - Presented below is information for Furlow Company for the month of March 2017.
|
Cost of goods sold
|
$231,460
|
Rent expense
|
$30,380
|
|
Freight-out
|
6,860
|
Sales discounts
|
7,680
|
|
Insurance expense
|
5,900
|
Sales returns and allowances
|
13,120
|
|
Salaries and wages expense
|
58,280
|
Sales revenue
|
393,970
|
Required - Prepare a multiple-step income statement.