Question

can someone help to Prepare a multiple-step income statement for Coyote, Inc. from the following single-steps?

Prepare a multiple-step income statement for Coyote, Inc. from the following single-step statement.
Net sales $1,833,000
Interest income 13,000
1,846,000
Costs and expenses:
Cost of good sold 1,072,000
Selling expenses 279,000
General and admin. expenses 175,000

Depreciation 14,000
Interest expense 16,000
Income tax expense 116,000
Net income $ 174,000

5 years ago - 1 answers

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Coyote Inc.
Income Statement
For Year Ended December 31, 2008

Sales Revenue...........1,833,000
Cost of Goods Sold.....(1,072,000)

Gross Profit........761,000

Operating expenses:
Selling...........279,000
General and admin................175,000
Depreciation Expense............14,000
Total Operating Expenses....468,000

Operating Income.........293,000

Other income (expense):
Interest Income.........13,000
Interest Expense........(16,000)
Total other expense, net....(3,000)

Income before income taxes....290,000
Income tax expense........(116,000)

Net income........174,000

5 years ago