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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
e4A. ACCounting ConneCtion â–¶ A single-step income statement follows. Present the information in a multistep income statement, and indicate what insights can be obtained from the multistep form as opposed to the single-step form.
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Revenues:
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nomar parra Company Income statement
For the year ended December 31, 2014
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|
Net sales |
 |
 |
$1,197,132 |
|
Interest income |
 |
 |
5,720 |
|
Total revenues Costs and expenses: |
 |
 |
$1,202,852 |
|
Cost of goods sold |
$777,080 |
 |
 |
|
Selling expenses |
203,740 |
 |
 |
|
General and administrative expenses |
100,688 |
 |
 |
|
Interest expense |
13,560 |
 |
 |
|
Total costs and expenses |
 |
 |
1,095,068 |
|
Net income |
 |
 |
$Â Â 107,784 |
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