In 2022, Oriole Corporation had net sales of $595,000 and cost of goods sold of $356,000. Operating expenses were $149,000, and interest expense was $6,500. The corporation's tax rate is 20%. The corporation declared preferred dividends of $13,000 in 2022, and its average common stockholders' equity during the year was $178,000. (a) Prepare an income statement for Oriole Corporation. ORIOLE CORPORATION Income Statement Prepare an income statement for Oriole Corporation. ORIOLE CORPORATION Income Statement
In 2022, Oriole Corporation had net sales of $595,000 and cost of goods sold of $356,000. Operating expenses were $149,000, and interest expense was $6,500. The corporation's tax rate is 20%. The corporation declared preferred dividends of $13,000 in 2022, and its average common stockholders' equity during the year was $178,000. (a) Prepare an income statement for Oriole Corporation. ORIOLE CORPORATION Income Statement Prepare an income statement for Oriole Corporation. ORIOLE CORPORATION Income Statement
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Prepare an income statement for Oriole Corporation.
ORIOLE CORPORATION
Income Statement

Transcribed Image Text:In 2022, Oriole Corporation had net sales of $595,000 and cost of goods sold of $356, 000.
Operating expenses were $149,000, and interest expense was $6,500. The corporation's tax
rate is 20%. The corporation declared preferred dividends of $13,000 in 2022, and its
average common stockholders' equity during the year was $178,000. (a) Prepare an income
statement for Oriole Corporation. ORIOLE CORPORATION Income Statement Prepare an
income statement for Oriole Corporation. ORIOLE CORPORATION Income Statement
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