Question

Could some please help me fill out this income statement.

Multiple Step Income Statement For the Year Ended December 31st, 2019 Revenue: Net Revenue Less: Cost of Goods Sold Gross Profit Operating Expenses Total Operating Expenses Operating Income Other Revenue and Expenses Total Other Revenue and Expenses Income Before Income Tax Income Tax Expense Net Income

Here is the adjusted trial balance, statement of stockholders' equity, and balance sheet.

Answer 1

Income statement:

Multiple Step Income Statement
For the Year Ended December 31st, 2019
Revenue:
Service revenue	3,480
Sales revenue	36,870
Sales discount	-150
Net Revenue		40,200
Less: Cost of goods sold		-17,280
Gross profit		22,920
Operating expenses
Depreciation expense	500
Bad debt expense	405
Insurance expense	500
Salaries expense	5,200
Supplies expense	1,400
Warranty Expense	450
Total Operating expenses		-8,455
Operating income		14,465
Other Revenue and Expense:
Interest revenue	75
Interest expense	-575
Total other revenue and expense		-500
Income before income tax		13,965
Income tax expense		-3,700
Net income		10,265

Notes:

1) The adjusted trial balance posted in the question is partial incorrect, below the correct trial balance.

Adjusted Trial Balance
December 31st, 2019
	Debit	Credit
Cash	126,587
Accounts receivable	13,500
Allowance for Uncollectible account		405
Interest receivable	75
Supplies	1,800
Prepaid insurance	5,500
Inventory	5,328
Notes receivable	15,000
Building	62,000
Gain		2,300
Accumulated depreciation		200
Accounts payable		3,200
Deferred revenue	0
Salaries payable		1,200
Income taxes payable		3,700
Warranty liability		450
Notes payable		113,670
Common stock		96,000
Dividends	1,600
Service revenue		3,480
Sales revenue		36,870
Sales discount	150
Interest revenue		75
Bad debt expense	405
Cost of goods sold	17,280
Depreciation expense	500
Income tax expense	3,700
Insurance expense	500
Interest expense	575
Salaries expense	5,200
Supplies expense	1,400
Warrranty Expense	450
Total	261,550	261,550