• FirefoxInstall the new Firefox »
  •  
    Corporations

    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
    a few seconds ago 1 Answer

    Best Answer

    Chosen by Asker
    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
    a few seconds ago

    Recommended Articles

     
     
     
     
    Yahoo Small Business Services