Good to Go Auto Products distributes automobile parts to service stations and repair shops.

$1,732,340 

Required:

1. Create a classified income statement for the year ended December 31, 2019. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses.
2. Create a statement of owner’s equity for the year ended December 31, 2019. No additional investments were made during the period.
3. Create a classified balance sheet as of December 31, 2019. The mortgage payable extends for more than one year.

Analyze:

What percentage of total operating expenses is attributable to warehouse expenses?