F) Fill in the Income Statement below. (fill the fields not highlighted in grey). Tax = $ 1500 Cost of sales = $5,000 Marketing expense = $2000 Interest expense = $1200 Gain on sale of fixed asset = $1,500 Sales revenue = $20,000 Salaries expense = $4,500

F) Fill in the Income Statement below. (fill the fields not highlighted in grey). Tax = $ 1500 Cost of sales = $5,000 Marketing expense = $2000 Interest expense = $1200 Gain on sale of fixed asset = $1,500 Sales revenue = $20,000 Salaries expense = $4,500

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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Question

F) Fill in the Income Statement below. (fill the fields not highlighted in grey).
Tax = $ 1500
Cost of sales = $5,000
Marketing expense = $2000
Interest expense = $1200
Gain on sale of fixed asset = $1,500
Sales revenue = $20,000
Salaries expense = $4,500
Gross Profit
Income from operations
Income before tax
ABC Company - Income Statement, December 31, 2018
Net income

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