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00 The following list of items was extracted from the December 31, 2020, trial balance of Future Products Corp. Use the following information. Credit $851,790
00 The following list of items was extracted from the December 31, 2020, trial balance of Future Products Corp. Use the following information. Credit $851,790 Debit Salaries expense $ 86, 870 Income tax expense (continuing operations) 115,396 Loss from operating Division C (net of $11,400 tax 27,300 benefit) Sales Total effect on prior years' profit of change from declining balance to straight-line depreciation (net of $12,360 tax) Gain on provincial condemnation of land owned by Future Depreciation expense 70,200 Gain on sale of Division C (net of $22,660 tax) Cost of goods sold 471,220 39, 240 103,100 73,500 Prepare the company's multiple-step income statement for 2020. (Enter all amounts as positive values.) FUTURE PRODUCTS CORP. 00 Income Statement For Year Ended December 31, 2020 Operating expenses: Total operating expenses Other revenues/expenses: Discontinued operations
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