180Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold.Cairle’s selling and administrative expenses for August were $1,100. Assume that Cairle prices its jobs at cost plus 20 percent.Required:Compose an income statement for Cairle Company for August.Cairle CompanyIncome StatementFor the Month of AugustSales $COG sold $Gross margin $Selling and Admin Exp Operating income $

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