E3.3(LO 1)(Income Statement Items) Presented below are certain account balances of Paczki Products Co. ...

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Accounting

E3.3(LO 1)(Income Statement Items) Presented below are certain account balances of Paczki Products Co.
Rent revenue
$6,500
Sales discounts
$7,800
Interest expense
12,700
Selling expenses
99,400
Beginning retained earnings
114,400
Sales revenue
390,000
Ending retained earnings
125,000
Income tax expense
31,000
Dividend revenue
71,000
Cost of goods sold
184,400
Sales returns and allowances
12,400
Administrative expenses
82,500
Instructions
From the foregoing, compute the following: (a) total net revenue and (b) net income.

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