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Fetzer Corporation provided the following partial-trial balance for the current year. (Click the icon to view the partial-trial balance.) Prepare a condensed, multiple-step income
Fetzer Corporation provided the following partial-trial balance for the current year. (Click the icon to view the partial-trial balance.) Prepare a condensed, multiple-step income statement for the current year. Include supporting schedules. Fetzer is subject to a 40% income tax rate. Begin by preparing Fetzer's condensed, multiple-step income statement. (List the subheadings in the order they are typically shown on a multiple-step income statement. Check your spelling carefu expenses or losses.) Partial trial balance Less: Fetzer Corporation Statement of Net Income For the Year Ended December 31 Net Income Now prepare the supporting disclosures for the current year. (List the disclosures in the order they are presented on the condensed multiple-step income statement. Check your spelling carefully an other expenses or losses.) Fetzer Corporation Footnote to Support Condensed Income Statement Line Items For the Year Ended December 31 s sign to enter c Fetzer Corporation Trial Balance (Selected Accounts) For the Year Ended December 31 Account Dividends Debit Credit $ 1,340 Sales $ 120,000 Dividend Income 520 Interest Income 900 Gain on Disposal of Plant Assets 960 Unrealized Gain on Trading Investments 2,400 Cost of Goods Sold 42,000 Office Supplies Expense 4,800 Sales Salaries Expense 3,900 Selling Expenses 8,000 Accounting and Legal Fees-General Expense 780 Advertising Expense 3,800 Office Salaries Expense 6,200 a minus sign to Depreciation Expense-General Expense 8,800 Interest Expense 2,200 Loss on Asset Impairment 2,500 Print Done
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