Jasper Company provided the following information for last year:
Costs Amount
Sales in units 290,000
Selling price $13
Direct materials $150,000
Direct labor $504,000
Manufacturing overhead $110,000
Selling expense $437,000
Administrative expense $860,0
Last year, beginning and ending inventories of work in process and finished goods equaled zero.
Required: 1. Prepare an income statement for Jasper for last year.

Explanation:

The preparation of the income statement is presented below:

                                         Jasper Company

                                       Income Statement

Sales                                $3,770,000      (290,000 × $13)

Less: Cost of goods sold -$764,000   ($150,000 + $504,000 + $110,000)

Gross margin                  $3,006,000

Less: Operating expenses

Selling expenses             -$437,000

Administrative expenses -$860,000

Total operating expenses -$1,297,000

Net income                         $1,709,000

We assume that the administrative expenses is $860,000

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

happy to

pls mark as brainliest

answerthe united states of america;