Kelly Automotive.xlsx

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Department
Business Administration
Course
Business Administration 1220E
Professor
Sean Burkett
Semester
Fall

Description
Kelly Automotive Statement of Earnings for the year ending January 31, 2004 Gross Sales $ 2,188.10 Sales Returns 57.5 Net Sales $ 2,130.60 Cost of Goods Sold: Beginning Inventory, January 31,2003 $ 358.90 Plus: Purchases (net) $ 1,729.30 Cost of goods available for sale $ 2,088.20 Less: Inventory, January 31, 2004 $ 441.70 Cost of Goods Sold $ 1,646.50 Gross Income $ 484.10 Operating Expenses: Gen / Admin Expenses $ 105.90 Selling Expenses $ 86.60 Amortization Expenses $ 35.00 Total Operating Expenses $ 227.50 Other Expenses $ 207.30 Net Earnings Before Tax $ 49.30 Tax $ 31.30 Net Earnings for the year, January 31, 2004 $ 18.00 Kelly Automotive Statement of Retained Earnings for the year ending January 31, 2004 Retained Earnings January 31, 2003 $ 226.20 Net Earnings for the year,January 31, 2004 $ 18.00 Total Retained Earnings: $ 244.20 Less: Dividends $ 12.00 Retained Earnings, January 31, 2004 $ 232.20 Kelly Automotive Balance Sheet as at January 31, 2004 Assets Current Assets:
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