ber 5, 2023-5pm. Question 1 Shown below is an income statement for 2023 that was prepared by a new accountant at Daisy Inc. Sales revenue Investment revenue.. Cost of merchandise sold. Selling expenses....... Administrative expenses.. Daisy Inc. Income Statement December 31, 2023 Interest expense. Income before special items. Special items Loss on disposal of a segment of the business. Major fire loss..... Net income tax liability. Net income....... $975,000 19,500 (408,500) (155,000) (215,000) (13,000)

203,000 (30,000) (80,000) (27,900) $65.100 Instructions In good form, prepare a multiple-step income statement for 2023 for Daisy Inc. (including format and terminology). Daisy Inc. has 50,000 common shares outstanding and has a 20% income tax rate on all tax- related items. As a private corporation, Daisy Inc. does not disclose earnings per share information.

Question 1 Shown below is an income statement for 2023 that was prepared by a new accountant at Daisy Inc. Instructions - In good form, prepare a multiple-step income statement for 2023 for Daisy Inc. (including format and terminology). Daisy Inc. has 50,000 common shares outstanding and has a 20% income tax rate on all taxrelated items. As a private corporation, Daisy Inc. does not disclose earnings per share information