Goldfinger Corporation had account balances at the end of the currentyear as follows: sales revenue, $29,000; cost of goods sold, $12,000;operating expenses, $6,200; and income tax expense, $4,320. Assumeshareholders owned 4,000 shares of Gold finger's common stock duringthe year. Prepare Goldfinger's income statement for the current year.
Goldfinger Corporation had account balances at the end of the currentyear as follows: sales revenue, $29,000; cost of goods sold, $12,000;operating expenses, $6,200; and income tax expense, $4,320. Assumeshareholders owned 4,000 shares of Gold finger's common stock duringthe year. Prepare Goldfinger's income statement for the current year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Goldfinger Corporation had account balances at the end of the current
year as follows: sales revenue, $29,000; cost of goods sold, $12,000;
operating expenses, $6,200; and income tax expense, $4,320. Assume
shareholders owned 4,000 shares of Gold finger's common stock during
the year. Prepare Goldfinger's income statement for the current year.
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