eBook Calculator Single-Step Income Statement Brandt Corporation had sales revenue of $500,000 for the current year for the year, its cost of goods sold was $240,000, its operating expenses were $50,000, its interest revenue was $2,000, and its interest expense was $12,000. Brandt's income tax rate is 30% Prepare a single-step income statement for Brandt Corporation for the current year. BRANDT CORPORATION Income Statement For Year Ended December 31, Current Year Revenues Sales revenue 500.000 Interest revenue 2.000 Total revenues 50.000 Expenses Cost of goods sold 240.000 Operating expenses 50,000 Interest expense 12.000 Income tax expense 62.000 X Total expenses Net income Fack Under the single-ste income statement format comanda sistem tots and senses. The como comutes Check My Work Previous Next > All work saved Save and Submit Assement for candio alm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress... Q Book Calculator ost of Goods Sold thaquille Corporation began the current year with inventory of $50,000. During the year, its purchases totaled $110,000. Shaquille paid freight charges 8,500 for these purchases. At the end of the year, Shaquille had inventory of 547,800. repare a schedule to determine Shaquille's cost of goods sold for the current year. SHAQUILLE CORPORATION Schedule for Cost of Goods Sold For the Year Ended December 31, Current Year