(L.OBJ. 5) Preparing a corporate income statement [5—10 min]
Consider the simple income statement Learned in Chapter 1 and the more complex income statement discussed in this chapter.
Requirement
1. List the major parts of a complex corporate income statement for WRS Athletic Clubs, Inc., for the year ended December 31, 2011. Include all the major parts of the income statement, starting with net sales revenue and ending with net income (net Loss). You may ignore dollar amounts and earnings per share.
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