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Exercise 6-2A Prepare a multiple-step income statement (L06-2) Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest expense
Exercise 6-2A Prepare a multiple-step income statement (L06-2) Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue Interest expense Salaries expense Utilities expense $411,000 Income tax expense 23,000 cost of goods sold 43,900 Advertising expense 53,000 $ 53,000 133,000 33,000 Required: Prepare a multiple-step income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2021 Sales revenue 411,000 Cost of goods sold 133,000 $ 278,000 Gross profit Advertising expense Utilities expense Salaries expense 33,000 53,000 43,000 Total operating expenses Operating income 129,000 149,000
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