Assignment
Complete the following assignment and submit it to the The Income Statement Dropbox.
This assignment is 7 points.
Mr. James runs a retail shop. Calculate the net income or net loss in reference to the following transactions that occurred during the month of January. Solve this problem using an electronic spreadsheet.
- Sale of Goods $70,000
- Materials Used $30,000
- Wages Paid $10,000
- Other Expenses $5,000
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