Prepare an income statement under absorption costing. Round all final answers to whole dollars. Sullivan Equipment Company Absorption Costing Income Statement For the Month Ended March 31 Sales $ 653,200 Cost of goods sold: Cost of goods manufactured $ 352,000 Inventory, March 31 38,880 Total cost of goods sold 313,120 Gross profit $ 340,080 Selling and administrative expenses 234,400 Income from operations $ 574,480

Income Statement For the Month Ended March 31

Sales                                                                    $ 653,200

Cost of goods sold:

Cost of goods manufactured    $ 352,000

Less Inventory, March 31            ($ 38,880)

Total cost of goods sold                                     ($ 313,120)

Gross profit                                                         $ 340,080

Less Expenses :

Selling and administrative expenses              ($ 234,400)

Income from operations                                     $ 105,680

Explanation:

The Product cost in absorption costing includes All Manufacturing Costs. All Non-Manufacturing Costs are treated as Period Costs that are Expensed during the period of Operation.

i believe the answer is: streets and roads

public property refers to the property that can be used by all legal citizens in a certain country. the public property was created and maintain using the government budget that allocated specifically for it. the budget itself come from the citizen's income tax payment.

3rd the reason why is because of management and leadership