can you solve this question? Examine the items in an income statement Study the...
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Examine the items in an income statement Study the information of LLM Ltd below and calculate the following items: 1. Cost of sales/cost of goods sold 2. Gross profit 3. Operating expenses 4. Net profit/loss Then post your answers, together with the detail workings in this forum. Sales revenue Stationery Deposit received Inventory balance at 1.1.2018 Purchase of inventory during the year Inventory balance at 31.12.2018 Depreciation Salary expense Payment to suppliers Interest expense Utility expense Repayment of long-term loans Insurance expense Rent expense $389,600 19,000 9,000 180,000 150,000 52,600 6,000 41,600 75,000 2,480 1,500 160,000 2,000 4,000
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