Rebecca Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Interest Revenue, $966 Sales Revenue, $28,656 Administrative Expenses, $596 Cost of Goods Sold, $11,213 Delivery (freight-out) Expense, $689 Income Tax Expense, $1,189 Interest Expense, $1,492 General Expenses, $1,311 Sales Discounts, $2,318 Sales Returns and Allowances, $932. Rebecca's operating expenses are $

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Shyla Mayo

Business

21 June, 07:43

Rebecca Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Interest Revenue, $966 Sales Revenue, $28,656 Administrative Expenses, $596 Cost of Goods Sold, $11,213 Delivery (freight-out) Expense, $689 Income Tax Expense, $1,189 Interest Expense, $1,492 General Expenses, $1,311 Sales Discounts, $2,318 Sales Returns and Allowances, $932. Rebecca's operating expenses are $

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Giles · Answer 1

operating expenses $2,596

Explanation:

Rebecca Department Stores

Income Statement

For the Year Ended December 31, 202x

Sales revenue:

Sales Revenue $28,656 Sales Discounts - $2,318 Sales Returns and Allowances - $932 Net sales revenue $25,406

Cost of goods sold - $11,213

Gross profit $14,193

Operating expenses:

Delivery (freight-out) Expense - $689 Administrative Expenses, - $596 General Expenses - $1,311 - $2,596

Income from operations $11,597

Non-operating revenues and expenses

Interest Revenue $966 Interest Expense - $1,492 - $526

Net income before taxes $11,071

Income Tax Expense - $1,189

Net income after taxes $9,882