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Borden Corporation provided the following partial-trial balance for the current year. (Click the icon to view the partial-trial balance.) Prepare a multi-step income statement for
Borden Corporation provided the following partial-trial balance for the current year. (Click the icon to view the partial-trial balance.) Prepare a multi-step income statement for the current year. Borden is subject to a 40% income tax rate. parentheses or a minus sign to enter other expenses or a loss.) Prepare Borden's multiple-step income statement for the cument year, one section at a time. (List the subheadings in the order they are typically shown on a multiple-step income statement. Round at amounts to the nearest whole dellar Use parentheses or a minus sign to enter other expenses or a loss) Borden Corporation Statement of Net Income For the Year Ended December 31 Sales Less Cost of Goods Sold i $140,000) (42,000) Gross Profe $ 16.000 Sales Expense Advertising Expense Office Salares Expense 4.200 3.000 Account Dividends For the Year Ended December 31 Debit Credit $ 1,350 $ 140,000 Sales Dividend Income 590 Interest Income 1,400 Gain on Disposal of Plant Assets 950 Unrealized Gain on Trading Investments 2,400 Cost of Goods Sold 42,000 Office Supplies Expense 4,700 Sales Salaries Expense 4,200 Selling Expenses 17,000 Accounting and Legal Fees-General Expense 790 Advertising Expense 3,800 Office Salaries Expense 6,500 Depreciation Expense-General Expense 8,400 Interest Expense 2,200 Loss on Asset Impairment 1,900
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