3-2. (Preparing an income statement) Prepare an income statement and a common- sized income statement from the following information. Sales Cost of goods sold General and administrative expenses Depreciation expenses Interest expense Income taxes $525,000 200,000 62,000 8,000 12,000 97,200

3-2. (Preparing an income statement) Prepare an income statement and a common- sized income statement from the following information. Sales Cost of goods sold General and administrative expenses Depreciation expenses Interest expense Income taxes $525,000 200,000 62,000 8,000 12,000 97,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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3-2. (Preparing an income statement) Prepare an income statement and a common-
sized income statement from the following information.
Sales
Cost of goods sold
General and administrative expenses
Depreciation expenses
Interest expense
Income taxes
$525,000
200,000
62,000
8,000
12,000
97,200

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