The following information for Lesky Corporation covers the year ended December 1,2000.
|
LESKY CORPORATION |
||
|
Revenue: |
||
|
Revenues from sales |
$362,000 |
|
|
Rental income |
1,000 |
|
|
Interest |
2,400 |
|
|
Total revenue |
365,400 |
|
|
Expenses: |
||
|
Cost of products sold |
$242,000 |
|
|
Selling expenses |
47,000 |
|
|
Administrative and general expenses |
11,400 |
|
|
Interest expense |
2,200 |
|
|
Federal and state income taxes |
20,300 |
|
|
Total expenses |
322,900 |
|
|
Net income |
$ 42,500 |
|
Required Change this statement to a multiple-step format, as illustrated in this chapter.