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Below is information for a companys 2020 income statement. The company's tax rate is 40%. Sales revenue 800,000 Interest revenue 10,000 Dividends 15,000 Cost of
Below is information for a companys 2020 income statement. The company's tax rate is 40%.
Sales revenue | 800,000 |
Interest revenue | 10,000 |
Dividends | 15,000 |
Cost of goods sold | 300,000 |
Sales discounts | 16,000 |
Selling expenses | 80,000 |
Administrative expenses | 150,000 |
Interest expense | 3,000 |
Gain on sale of equipment | 8,000 |
What amount should the company report as Total Revenues on the single-step income statement?
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