(10 min.) Prepare Statements for a Service Company: Jupiter Consultants Sales revenue $8,500,000 (Given) Cost of services sold (b) 4,450,000 revenue gross margin) – Gross margin $4,050,000 (Given) Marketing and administrative (a) 2,525,000 (Gross margin operating profit) – Operating profit $1,525,000 (Given) (20 min.) Prepare Statements for a Service Company: Lead! Inc. You can solve this in the order shown below. Lead!, Inc. Income Statement For the Month Ended April 30 a revenue $600,000 c Cost of services sold 384,000
(10 min.) Prepare Statements for a Service Company: Jupiter Consultants Sales revenue $8,500,000 (Given) Cost of services sold (b) 4,450,000 revenue – gross margin) Gross margin $4,050,000 (Given) Marketing and administrative (a) 2,525,000 (Gross margin – operating profit) Operating profit $1,525,000 (Given) (20 min.) Prepare Statements for a Service Company: Lead! Inc. You can solve this in the order shown below. Lead!, Inc. Income Statement For the Month Ended April 30 revenue $600,000 a Cost of services sold 384,000 c