In 2011 ClydeClydeRenkasRenkasopened Clydes Pets a small retail shop selling pet supplies.On December 31,2011,, Clyde’saccounting records showed the followingInventory on December 31, 2011$10,200Inventory on January 1, 201115,300Sales revenue55,000Utilities for shop3,400Rent for shop4,800Sales commissions2,650Purchases of merchandise22,000:LOADING…(Click the icon to view the accounting records.)Requirement 1. Prepare an income statement for Clyde’s PetsClyde’s Pets, a merchandiser, for the year ended December 31, 2011. Save Accounting Table… + Copy to Clipboard… + Clyde’s PetsIncome StatementYear Ended December 31, 2011Cost of goods sold:Cost of goods soldGross profitOperating expenses:
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