Question

now we will fill in the missing information on the income statement. select the heading, then complete the statement. manny manufacturing company income statement month ended june 30, 2025 net sales revenue cost of goods sold beginning finished goods inventory $ 113,000 cost of goods manufactured cost of goods available for sale ending finished goods inventory cost of goods sold 229,000 gross profit 281,000 selling and administrative expenses selling expenses 95,000 administrative expenses total selling and administrative expenses 105,000 operating income

Explanation:

Step1: Calculate Net Sales Revenue

Net Sales Revenue = Gross Profit + Cost of Goods Sold. Given Gross Profit is $281,000 and Cost of Goods Sold is $229,000. So, $281,000 + $229,000 = $510,000.

Step2: Calculate Cost of Goods Manufactured

Cost of Goods Available for Sale = Beginning Finished Goods Inventory + Cost of Goods Manufactured. Also, Cost of Goods Available for Sale = Cost of Goods Sold + Ending Finished Goods Inventory. But we can find Cost of Goods Manufactured from Cost of Goods Available for Sale - Beginning Finished Goods Inventory. First, we know Cost of Goods Sold is $229,000, and let's assume Ending Finished Goods Inventory is such that Cost of Goods Available for Sale = 229,000 + Ending. But alternatively, from Net Sales = 510,000, Gross Profit = 281,000, so COGS = 229,000. Now, Cost of Goods Available for Sale = Beginning FG + COGM. And Cost of Goods Available for Sale = COGS + Ending FG. But we can also find COGM as follows: Let's find Administrative Expenses first. Total Selling and Administrative Expenses is $105,000, Selling Expenses is $95,000, so Administrative Expenses = 105,000 - 95,000 = $10,000. Now, Operating Income = Gross Profit - Total Selling and Administrative Expenses = 281,000 - 105,000 = $176,000. But back to COGM: Cost of Goods Available for Sale = Beginning FG + COGM. And Cost of Goods Available for Sale = COGS + Ending FG. But we can find COGM from Cost of Goods Available for Sale - Beginning FG. Wait, we know COGS = 229,000, Beginning FG = 113,000. Let's find Cost of Goods Available for Sale: Cost of Goods Available for Sale = COGS + Ending FG. But we can also say Cost of Goods Available for Sale = Beginning FG + COGM. So, COGM = Cost of Goods Available for Sale - Beginning FG. But we can find Cost of Goods Available for Sale as COGS + Ending FG. But we don't know Ending FG. Wait, maybe we made a mistake. Wait, Net Sales is 510,000 (from Step1: 281k + 229k). Now, Cost of Goods Sold is 229k. Cost of Goods Available for Sale = Beginning FG + COGM. And Cost of Goods Available for Sale = COGS + Ending FG. But we can also find COGM as follows: Let's use the formula for Cost of Goods Sold: COGS = Beginning FG + COGM - Ending FG. So, 229,000 = 113,000 + COGM - Ending FG. But we don't know Ending FG. Wait, maybe we can find COGM from Cost of Goods Available for Sale. Wait, Cost of Goods Available for Sale = Beginning FG + COGM. And Cost of Goods Available for Sale = COGS + Ending FG. But we can't find Ending FG. Wait, maybe the problem has some missing info, but let's proceed with what we can. Wait, the first missing is Net Sales Revenue: 281,000 + 229,000 = 510,000. Then Administrative Expenses: 105,000 - 95,000 = 10,000. Operating Income: 281,000 - 105,000 = 176,000. Now, for Cost of Goods Manufactured: Cost of Goods Available for Sale = COGS + Ending FG. But we can also say Cost of Goods Available for Sale = Beginning FG + COGM. So, COGM = Cost of Goods Available for Sale - Beginning FG. But we need to find Cost of Goods Available for Sale. Wait, maybe the problem assumes Ending FG is zero? No, that's not right. Wait, maybe there's a typo, but let's use the given numbers. Wait, the Cost of Goods Sold is 229,000, Beginning FG is 113,000. So, Cost of Goods Available for Sale = 113,000 + COGM. And Cost of Goods Available for Sale = 229,000 + Ending FG. But we can't find Ending FG. Wait, maybe the problem has all info, let's re - check. Wait, the Net Sales Revenue is Gross Profit + COGS = 281k + 229k = 510k. Then, Administrative Expenses: Total S&A is 105k, Selling is 95k, so 105k - 95k = 10k. Operating Income: 281k - 105k = 176k. Now, for COGM: Let's assume that Ending Finished Goods Inventory is such that Cost of Goods Available for Sale = 229k + Ending. But we can also say Cost of Goods Available for Sale = 113k + COGM. So, COGM = (229k + Ending) - 113k. But we don't know Ending. Wait, maybe the problem has a mistake, but let's proceed with the calculations we can do.

Step3: Calculate Administrative Expenses

Total Selling and Administrative Expenses = Selling Expenses + Administrative Expenses. So, Administrative Expenses = Total Selling and Administrative Expenses - Selling Expenses = $105,000 - $95,000 = $10,000.

Step4: Calculate Operating Income

Operating Income = Gross Profit - Total Selling and Administrative Expenses = $281,000 - $105,000 = $176,000.

Step5: Calculate Cost of Goods Manufactured (assuming Ending Finished Goods Inventory is 0, which might not be correct, but let's check)

Cost of Goods Available for Sale = Cost of Goods Sold + Ending Finished Goods Inventory. If we assume Ending is 0, then Cost of Goods Available for Sale = $229,000. Then Cost of Goods Manufactured = Cost of Goods Available for Sale - Beginning Finished Goods Inventory = $229,000 - $113,000 = $116,000. But this is an assumption. However, the main calculable parts are Net Sales, Administrative Expenses, and Operating Income.

Answers:

- Net Sales Revenue: $\boldsymbol{\$510,000}$
- Administrative Expenses: $\boldsymbol{\$10,000}$
- Operating Income: $\boldsymbol{\$176,000}$
- Cost of Goods Manufactured (assuming Ending FG = 0): $\boldsymbol{\$116,000}$ (Note: This assumes Ending Finished Goods Inventory is $0$, which may need adjustment if actual value is known)

Answer:

s:

• Net Sales Revenue: $\boldsymbol{\$510,000}$
• Administrative Expenses: $\boldsymbol{\$10,000}$
• Operating Income: $\boldsymbol{\$176,000}$
• Cost of Goods Manufactured (assuming Ending FG = 0): $\boldsymbol{\$116,000}$ (Note: This assumes Ending Finished Goods Inventory is $0$, which may need adjustment if actual value is known)