Single step income statement
Sales revenue | 2780000 | |
Investment revenue | 103000 | |
Total revenue | 2883000 | |
Less: Expense | ||
Cost of goods sold | 2190000 | |
Wages-Salespeople | 175000 | |
Advertising & Promotion | 60000 | |
Entertainment | 37000 | |
Wages-admin | 142000 | |
Rent | 48000 | |
Utilities | 21000 | |
Interest expense | 76000 | |
Income tax expense | 40000 | |
Total expense | 2789000 | |
Net income | 94000 | |
Share outstanding | 10000 | |
EPS | 9.40 | |
Question 3 _(14 marks) Prepare a single-step income statement for 2010 showing operating expenses by nature...
$122.600 Us of goods sold, selling expenses and reland administrative expenses 3. Prepare a single-step income statement for the year ended October 31. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of October 31. (Round ratios to two decimals.) Total expenses. $197.100 SERIAL PROBLEM Business Solutions P1 P2 P3 P4 This serial problem began in Chapter 1 and continues through most of the book. It previous chapters ments were not completed, the serial problem can begin...