26 Jun RODRIQUEZ COMPANY INCOME STATEMENT
RODRIQUEZ COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2012 Sales $6,967,200 Cost of goods sold Beginning inventory $1,893,400 Purchases 4,454,110 Goods available for sale 6,347,510 Ending inventory 1,608,780 Cost of goods sold 4,738,730 Gross profit 2,228,470 Operating expenses Selling expenses 447,470 Administrative expenses 703,380 1,150,850 Net income $1,077,620 Additional information: 1. Accounts receivable decreased $314,740 during the year. 2. Prepaid expenses increased $160,270 during the year. 3. Accounts payable to suppliers of merchandise decreased $280,320 during the year. 4. Accrued expenses payable decreased $126,330 during the year. 5. Administrative expenses include depreciation expense of $55,900. I just need help in solving the decreased amount or inventory •
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