Question
Carson Corporation provided the following partial-trial balance for the current year. Carson Corporation Trial Balance (Selected Accounts) For the Year Ended December 31 Account Debit
Carson Corporation provided the following partial-trial balance for the current year.
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
Prepare a single-step income statement for the year ended December 31.
CarsonCarson
is subject to a
4040%
income tax rate. (Round all amounts to the nearest whole dollar.)
Carson Corporation | ||
Statement of Net Income | ||
For the Year Ended December 31 | ||
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Net Income |
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