In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data. Salaries and wages…
In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data.
| Salaries and wages expenses | $688,200 | Loss on disposal of plant assets | $ 123,580 | |||
| Cost of goods sold | 1,460,760 | Sales revenue | 3,270,800 | |||
| Interest expense | 105,080 | Income tax expense | 37,000 | |||
| Interest revenue | 96,200 | Sales discounts | 236,800 | |||
| Depreciation expenses | 458,800 | Utilities expense | 162,800 |
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