Question
Carson Corporation provided the following partial-trial balance for the current year. Prepare a single-step income statement for the year ended December 31. Carson is subject
Carson Corporation provided the following partial-trial balance for the current year.
Prepare a single-step income statement for the year ended December 31.
Carson is subject to a 40% income tax rate. (Round all amounts to the nearest whole dollar.)
Carson Corporation
Trial Balance (Selected Accounts)
For the Year Ended December 31
Account
Debit
Credit
Dividends
$1,370
Sales
$190,000
Dividend Income
530
Interest Income
1,300
Gain on Disposal of Plant Assets
960
Unrealized Gain on Trading Investments
1,600
Cost of Goods Sold
40,000
Office Supplies Expense
5,000
Sales Salaries Expense
4,200
Selling Expenses
9,000
Accounting and Legal FeesGeneral Expense
770
Advertising Expense
3,600
Office Salaries Expense
7,100
Depreciation ExpenseGeneral Expense
8,900
Interest Expense
1,900
Loss on Asset Impairment
2,000
if anything wrong or missing please fix them thanks
Carson Corporation Statement of Net Income For the Year Ended December 31 Sales 19000 Cost of Goods Sold 40000 Unrealized Gain on Trading Investments 5000 Operating Expenses: Office Supplies Expense Sales Salaries Expense Selling Expenses 4200 9000 Accounting and Legal FeesGeneral Expense 770 3600 Advertising Expense Office Salaries Expense 7100 Depreciation Expense-General Expense 8900 1900 Interest Expense Loss on Asset Impairment 2000 Income Tax Expense 44569 150000 65751 Net IncomeStep by Step Solution
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