The cost accountant for Angie's Apparel has compiled the following information for last month's operations:
Administrative costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 14,000
Merchandise inventory, July 1 . . . . . . . . . . . . . . . . . . . . . . . 3,000
Merchandise inventory, July 31 . . . . . . . . . . . . . . . . . . . . . . 2,500
Merchandise purchases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120,000
Sales commissions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000
Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190,000
Store rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000
Store utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,500
Transportation-in costs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000
Required :
Prepare an income statement with a supporting cost of goods sold statement.