Question
Financial information is presented below: Operating expenses $ 28,000 Net sales 140,000 Interest revenue 1,500 Interest expense 10,000 Income tax expense 500 Cost of goods
Financial information is presented below:
Operating expenses $ 28,000
Net sales 140,000
Interest revenue 1,500
Interest expense 10,000
Income tax expense 500
Cost of goods sold 98,000
The amount of income from operations on the multi-step income statement would be
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Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds
7th Edition
73527122, 978-0073527123
