The following select account data is taken from the records of Reese Industries for 2019. A. Use the data provided to

Excerpt
Interest revenue 10,268 224,598 15,080 3,200 2,450 12,906 100,440 1,600 23,622 30,410 135,404 59,419 31,000 Cost of goods sold Rent expense Depreciation expense: office equipment Insurance expense Advertising expense Accounts receivable Office supplies expense Rent revenue Sales salaries expense Accounts payable Common stock Marketing expense

The following select account data is taken from the records of Reese Industries for 2019. A. Use the data provided to compute net sales for 2019. B. Prepare a simple income statement for the year ended December 31, 2019. C. Compute the gross margin for 2019. D. Prepare a multi-step income statement for the year ended December 31, 2019. Transcribed Image Text: Sales
$640,363
582,620
58,040
3,677
90,232
Merchandise inventory
Sales discounts
Interest expense
Sales returns and allowances
Interest revenue
10,268
224,598
15,080
3,200
2,450
12,906
100,440
1,600
23,622
30,410
135,404
59,419
31,000
Cost of goods sold
Rent expense
Depreciation expense: office equipment
Insurance expense
Advertising expense
Accounts receivable
Office supplies expense
Rent revenue
Sales salaries expense
Accounts payable
Common stock
Marketing expense

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