Click Photographic Supplies, Inc.'s accounting records include the following for 2024: (Click the icon to view...
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Click Photographic Supplies, Inc.'s accounting records include the following for 2024: (Click the icon to view the data.) Assume Click's income tax rate is 21%. Prepare Click's multi-step income statement for the year ending December 31, 2024. Omit earnings per share. (Use parentheses or a minus sign for amounts decreasing the income from continuing operations.) Net Sales Cost of Goods Sold Gross Profit Operating Expenses Operating Income Income Tax Expense Income Statement Year Ended December 31, 2024 520000 -215000 305000 -170000 135000 -28350 106650 Income from Continuing Operations Discontinued Operations (less applicable tax saving of $8,400) Net Income Data table Loss on Discontinued Operations $ 40,000 Net Sales 520,000 Cost of Goods Sold 215,000 Operating Expenses 170,000 - X Click Photographic Supplies, Inc.'s accounting records include the following for 2024: (Click the icon to view the data.) Assume Click's income tax rate is 21%. Prepare Click's multi-step income statement for the year ending December 31, 2024. Omit earnings per share. (Use parentheses or a minus sign for amounts decreasing the income from continuing operations.) Net Sales Cost of Goods Sold Gross Profit Operating Expenses Operating Income Income Tax Expense Income Statement Year Ended December 31, 2024 520000 -215000 305000 -170000 135000 -28350 106650 Income from Continuing Operations Discontinued Operations (less applicable tax saving of $8,400) Net Income Data table Loss on Discontinued Operations $ 40,000 Net Sales 520,000 Cost of Goods Sold 215,000 Operating Expenses 170,000 - X
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