0 Required information PSYMON COMPANY, INC Income Statement For the Year Ended December 31 Sales Revenue Cost of Goods Sold Gross Profit 2174000 126,800 90,600 01-228000 Office Expenses Salaries and Wages Expense Income from Operations 21,800 46,000 Income before Income Tax Expense Income Tax Expense Interest Expense Net Income 46,000 12,840 3,200& 110,760 Prev [The following information applies to the questions displayed below Company, Inc., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Cash 54,560 22,800 83,000 62,000 Inventory and Equipment $ 26,000 38,400 114,000 14,000 217,400 Cost of Goods Sold 126, 800 21,800 22,800 3,200 12,840 Income Tax Expense $409,800 $409,800 1 Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of on the balance sheet rather than the income statement htm Help The following information applies to the questions displayed below] 2 Psymon Company, Inc., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Cash 54,560 22,800 83,000 62,000 Inventory 26,000 38,400 114,000 14,000 217,400 Common Stock Sales Revenue Cost of Goods Sold office Expenses Incone Tax Expense 126,800 21,800 22,800 ,200 Totals $409,800 $409,800 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP Some of the accounts listed will appear on the balance sheet rather than the income statement 0 Required information PSYMON COMPANY, INC Income Statement For the Year Ended December 31 Sales Revenue Cost of Goods Sold Gross Profit 2174000 126,800 90,600 01-228000 Office Expenses Salaries and Wages Expense Income from Operations 21,800 46,000 Income before Income Tax Expense Income Tax Expense Interest Expense Net Income 46,000 12,840 3,200& 110,760 Prev The following information applies to the questions displayed below Psymon Company, Inc., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Cash 54,560 22,800 83,000 62,000 26,000 38,400 114,000 14,000 217,400 Cost of Goods Sold 21, 800 22,800 3,200 Income Tax Expense 1. Prepare a K Prev 5 6 of 6