Use the following information: total sales: $100,000, rent revenue: $1000, other revenue: $3000, selling expenses: $40000, operating expenses: $50000, cost of goods sold: $10000, interest expenses: $2000, and tax rate: 20%. Prepare a single-income statement.

Use the following information: total sales: $100,000, rent revenue: $1000, other revenue: $3000, selling expenses: $40000, operating expenses: $50000, cost of goods sold: $10000, interest expenses: $2000, and tax rate: 20%. Prepare a single-income statement.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...

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Question

Use the following information: total sales: $100,000,
rent revenue: $1000, other revenue: $3000, selling
expenses: $40000, operating expenses: $50000, cost of
goods sold: $10000, interest expenses: $2000, and tax
rate: 20%.
Prepare a single-income statement.

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