Excellent Company Sells Accounting Textbooks -
Required: Prepare an Income Statement for the Year Ended

Excellent Company sells accounting textbooks. The following information summarizes Excellent's operating activities for 2012:
$$\begin{array} { |l | r| } \hline \text { Nerchendise inventory, Janury } 1,2012 & \$ 10,000 \\\hline \text { Nerchendise inventory, Decenber } 31,2012 & \$ 7,000 \\\hline \text { Purcheses } & \$ 95,000 \\\hline \text { Selling and Adrminitrative Expenses } & \$ 65,000 \\\hline \text { Sales Reverue } & \$ 180,000 \\\hline\end{array}$$
-
Required: Prepare an income statement for the year ended December 31, 2012. Please use the format provided below, and include a vertical analysis showing percentages rounded to the nearest tenth of a percent.
$\begin{array}{|l|l|r|r|}\hline \quad\quad\quad\quad\quad\quad\quad&\quad\quad\quad\quad&\quad\quad\quad&\quad\quad\quad\\\hline &&&\\\hline &&&\\\hline &&&\\\hline &&&\\\hline &&&\\\hline &&&\\\hline &&&\\\hline &&&\\\hline &&&\\\hline &&&\\\hline &&&\\\hline\end{array}$