Cara's Cookie Company

Adjusted Trial Balance (Selected Accounts)

For the Current Year Ended

Account

Debit

Credit

Common Stock (no par): Beginning Balance

$458,000

Retained Earnings: Beginning Balance

1,400,000

Accumulated Other Comprehensive Income: Beginning Balance

$57,000

Dividends

61,000

Sales

3,200,000

Interest Income

3,800

Dividend Income

3,400

Gain on Disposal of Plant Assets

84,000

Unrealized Gain on Trading Securities

45,000

Gain on Sale of Discontinued OperationsBefore Tax

72,000

Unrealized Gain on Available-for-Sale BondsBefore Tax

4,100

Cost of Goods Sold

590,000

Selling Expenses

43,000

Office Salaries Expense

81,000

Legal Fees-General

10,000

Sales Salaries Expense

39,000

Advertising Expense

29,000

Office Supplies Expense

64,000

Accounting FeesAdministrative

24,000

Amortization ExpenseGeneral

24,000

Depreciation ExpenseGeneral

31,000

Interest Expense

8,300

Loss on Asset Impairment

9,000

Cara's Cookie Company provided the following accounts from its year-end trial balance. (Click the icon to view the year-end trial balance accounts.) The company is subject to a 30% income tax rate. Requirement Prepare a multiple-step income statement for the current year. Prepare Cara's multiple-step income statement for the current year, one section at a time. (List the subheadings in the order they are typically shown on a multi-step income statement. Use parentheses or a minus sign to enter other expenses or a loss.)