“Requirement 2. Prepare an income statement for Chewy Bones for the year ended December 31, 2016.​(For accounts with a​ $0 balance, make sure to enter​ “”0″” in the appropriate​ column.)”,”Income StatementYear Ended December 31, 2016Revenue: Sales Revenue: $111,000Cost of Goods Sold: Beginning Finished Goods Inventory: $0 Cost of Goods Manufactured: 82,550 Cost of Goods Available for Sale: 82,550 Ending Finished Goods Inventory: (5,200)Cost of Goods Sold: 77,350Gross Profit: 33,650Selling and Administrative Expenses: Customer Service Hotline Expense: 2,000 Delivery Expense: 1,400 Sales Salaries Expense: 5,400Total Selling and Administrative Expenses: 8,800Operating Income: $24

“Requirement 2. Prepare an income statement for Chewy Bones for the year ended December 31, 2016.​(For accounts with a​ $0 balance, make sure to enter​ “”0″” in the appropriate​ column.)”,”Income StatementYear Ended December 31, 2016Revenue: Sales Revenue: $111,000Cost of Goods Sold: Beginning Finished Goods Inventory: $0 Cost of Goods Manufactured: 82,550 Cost of Goods Available for Sale: 82,550 Ending Finished Goods Inventory: (5,200)Cost of Goods Sold: 77,350Gross Profit: 33,650Selling and Administrative Expenses: Customer Service Hotline Expense: 2,000 Delivery Expense: 1,400 Sales Salaries Expense: 5,400Total Selling and Administrative Expenses: 8,800Operating Income: $24

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