What is the saleing expense and administrative expense? The folowing income stat

Question

What is the saleing expense and administrative expense?

The folowing income statements were provided by Rajendram Corp, a retailer 2017 Income Statement 2016 income Statement Sales Cost of sales Gross profit Selling expense Administrative expense $1,700 000 Sales $1 500 000 1450,000 398 000 175,000 53.000 Total selling and administrative expense $797,000 Depreciation-building 40.000 20,000 Total expenses$1136,000 $364.000 520000 Cest of sales $1,180000 Sales salaries s702000 Advertising 95000 Office supplies Delivery expense 3000 Net income Net income Required 1. Identity each income statement as ether single- or multiple-step fomat 2017 income statement Mutiple-step 2016 income statement Single-step Check My Work Review the singie step and multliple slep income statements in the lext 2. Convert the 2016 income statement to the same format as the 201 7 income statement Rajendram Corp ncome Statement Sales Cost of saies Gross prof Selling expenses Administrative expenses 1,500,000 450,000 1,050,000 288,000 990,000 686,000 364,000 Total welting and administrative es606.000 Net inceme feed

Explanation / Answer

2) Income statement :

Sales 1500000 Cost of sales 450000 Gross profit 1050000 Selling expense 593000 Administrative expense 93000 Total selling and administrative expense 686000 Net income 364000

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