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    Greenland's Avatar
    Greenland Posts: 1, Reputation: 1
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    #1

    Jan 31, 2007, 11:58 AM
    Net Sales
    Hi, I'm trying to make a multi-step income statement. I am given account balances for cash, A/R, inventory, supplies in the store, prepaid rent, accounts payable, common stock, and retained earnings. How do I find the amounts to plug into the statement... such as finding the figures for Net Sales, Cost of Goods, Administrative Expenses, and Net Income?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Jan 31, 2007, 06:27 PM
    The accounts you gave relate to a balance sheet.

    While some can be used to help compile an income statement, were you not given any more information?

    Such as transactions or additional notes/comments?
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