b Kingbird Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $15. In making the sales, the company incurred the following costs and expenses.Cost of goods soldSelling expensesAdministrative expensesVariableeTextbook and Media$574,000122,000234,000Prepare a GAAP income statement.V<<>FixedS$770,00063,00079,000IKINGBIRD CORPORATIONGAAP Income Statement$

The income statement shows the net income or net loss of the company. It is calculated by deducting…

ngbird Corporation had sales of $3,000,000 for the year ended December 31, 2022. The unit selling price was $15. In making the sales, the company incurred the following costs and expens ost of goods sold alling expenses dministrative expenses Variable $574,000 122,000 234,000 Fixed $770,000 63,000 79,000