Sort each item into its place on the income statement. Every miss tells you why.
1.Sales discounts
2.Sales returns and allowances
3.Freight paid on goods bought
4.Inventory shrinkage
5.Delivery expense on goods sold
6.Salespeople's salaries
7.Advertising
8.Office salaries
9.Depreciation on office equipment
10.Interest revenue
11.Gain on sale of equipment
12.Interest expense
13.Dividends
Two of them fire twice — a price entry and a cost entry — so there are 13 cards.
Z-Mart buys $500 of merchandise for cash.