Answer :
The income statement for Rex Manufacturing for the year ended December 31 is: $22,000.
Income statement
Rex Manufacturing income statement
Sales Revenue $94,000
Cost of goods sold $44,000
($20,000+$41,000-$17,000)
Gross margin $50,000
($94,000-$44,000)
Operating Expenses :
General and Advertising Expenses $15,000
Selling Expenses $13,000
Total operating Expenses $28,000
Operating Income $22,000
($50,000-$28,000)
Therefore the income statement for Rex Manufacturing for the year ended December 31 is: $22,000.
The complete question is:
Prepare an income statement for Rex manufacturing for the year ended December 31 using the following information
Finished goods inventory ending $17,000 general and administrative expenses 15,000 accounts receivable 19,000 finished goods inventory beginning 20,000 cost of goods manufactured 41,000 selling expenses 13,000 cash 56,000 land 29,000 sales 94,000 equipment 2000
Learn more about income statement here:https://brainly.com/question/26252171
#SPJ1