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Below is a partial listing of the adjusted account balances of Teal Mountain at year-end on December 31, 2014: Accounts receivable $27,840 Cost of
Below is a partial listing of the adjusted account balances of Teal Mountain at year-end on December 31, 2014: Accounts receivable $27,840 Cost of goods sold 296,960 Selling expenses (Includes depreciation) 55,680 Interest expense 3,480 Accumulated depreciation-Building 17,400 Sales discounts 5,000 Inventory 60,320 Administrative expenses Oncludes depreciation) 75,400 Sales revenue h 484,880 Accounts payable 39440 Interest revenue 580 Prepare a multiple-step Income statement for the Teal Mountain for the year ended December 31, 2014 (List other revenues before other expenses)
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