Multiple Step Income Statement
Refer to the information in Practice 4 6. Use that information to prepare a multiple step income statement.
Practice 4 6
Single Step Income Statement
Using the following information, prepare a single step income statement.
|
Cost of goods sold |
$ 6,000 |
|
Interest expense |
1,100 |
|
Selling and administrative expense |
750 |
|
Cash |
400 |
|
Sales |
10,000 |
|
Accrued wages payable |
250 |
|
Dividends |
700 |
|
Retained earnings (beginning) |
1,000 |
|
Income tax expense |
1,200 |