Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 08 Apr 2018 My Price 9.00

multistep form

Multistep Income Statement

E 9. A single-step income statement appears at the top of the following page. 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.

Pasica Linens Corporation

Income Statement

For the Year Ended December 31, 20xx

Revenues

 

  

Net sales

 

$1,197,132

Interest income

  

$1,202,852

Total revenues

  

5,720

Costs and expenses

    

Cost of goods sold

$777,080

  

Selling expenses

203,740

  

General and administrative expenses

100,688

  

Interest expense

13,560

  

Total costs and expenses

    

Income before income taxes

  

107,784

Income taxes

  

8

Net income

  

83,784

Earnings per share

  

24,000
   

1,095,068

Answers

Maurice Tutor
(5)
Status NEW Posted 08 Apr 2018 07:04 AM My Price 9.00

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