Question

%) E57 (similar to) Trial balance Cassie's Cookle Company provided the following accounts from its year end trial balanoe E(Clok the loon to view the yearend trial balance accounts) The company is subjet to a 45% home tax rate. 81,000 73,000 Aooumulated Other Comprehensive Income: Beginning Balance 2,600,000 Sales Interest Income Dividend Income Gain on Disposal of Plant Assels Unrealized Gain on Tradng Securites Gain on Sale of Discontinued Operations Before Tax Unrealined Gain on Available-for Sale Bonde-Before Tax Cost of Goods Sold Geling Expense Office Salaries Expense Prepare a multiple-step income statement for the current year Statement of Net Income For the Current Year Ended 2,600,000 37,000 ess Cost of Goods Sold Gross Prof Operating Expenses Seling Expensos 2,030,000 4,100 670,000 46,000 81,000 Sales Saleries Expes 20000 101000 Salaries Expense 29,000 General and Administrative Expenses Office Salaries Expense Legal Fees-General Office Supplies Expense Legal Fees-General Advertising Expense Ofoe Supplies Expense Accounting Fees-Administrative Amortization Expense-General 27,000 81000 18,000 24,000 Interest Expense Loss on Asset Impairment

Answer 1

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Paga Na: Date Statcamemt s Net Encome the ent yes eaded Sales Sesdenue ,6o0, ooo Net Sales Bevenve 0.60.00 poneit 义2030,000 45000 Seling esgeses Sales Salenies exgenses Advenisimg eepense alive eagenses ses esol Jees ol Pice aupplies esspenses 6 4000 1gooo ,24000 ,6 39600 卢1694600 on Pees nteest Income Dividend Tncome oim om dis fasal ot Ilomt assets roin on Sales oOlscominaed opaens3100 芦 4000 s 8100 9200 foss on asset pismnen Income Tax 045% B 91634S Net Income Fo the ye 9977 SS