Prepare an income statement for hansen realty for the year ended december 31, 2017. beginning inventory was $1,251. ending inventory was $1,603. (input all amounts as positive values.) sales $ 35,200 sales returns and allowances 1,095 sales discount 1,155 purchases 10,662 purchase discounts 543 depreciation expense 118 salary expense 5,350 insurance expense 2,750 utilities expense 213 plumbing expense 253 rent expense 183 hansen realty income statement for year ended december 31, 2017 $

HANSEL REALTY

Income Statement

For Year Ended December 31, 2017

Sales35200

Sales return and allowances__1095

Sales discount1155

Net Sales32950

Cost of sales10267

Gross Margin24933

Operating Expenses  

Salary expense5350

Insurance expense2750

Plumbing expense253

Total expenses8353

EBITDA16580

Othee expenses  

Depreciation118

Rent expense213

total other expenses331

Net income16249

Explanation:

Cost of sales

Begining Inventory1251

+Purchases10662

-Purchases discount43

-Ending Inventory1603

Cost of sales10267

Sales35200

Sales return and allowances__1095

Sales discount1155

Net Sales32950

Cost of sales10267

Gross Margin24933

Operating Expenses  

Salary expense5350

Insurance expense2750

Plumbing expense253

Total expenses8353

EBITDA16580

Othee expenses  

Depreciation118

Rent expense213

total other expenses331

Net income16249

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answer; someone must cover the cost associated with the provision of scarce goods in both sectors;