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Forest Corporation provided the following partial-trial balance for the current year. B (Click the icon to view the partial-trial balance.) Prepare a multi-step income statement
Forest Corporation provided the following partial-trial balance for the current year. B (Click the icon to view the partial-trial balance.) Prepare a multi-step income statement for the current year. Forest is subject to a 40% income tax rate. Prepare Forest's multiple-step income statement for the current year, one section at a time. (List the subheadings in the nearest whole dollar. Use parentheses or a minus sign to enter other expenses or a loss.) Forest Corporation Statement of Net Income For the Year Ended December 31 Less: 3 Forest Corporation Trial Balance (Selected Accounts) For the Year Ended December 31 Account Debit Credit Dividends $ 1,330 Sales $ 180,000 Dividend Income 550 Interest Income 1,200 1.300 Gain on Disposal of Plant Assets Unrealized Gain on Trading Investments 1,800 Cost of Goods Sold 41,000 Office Supplies Expense 4,700 Sales Salaries Expense 4,300 11,000 Selling Expenses Accounting and Legal Fees General Expense Advertising Expense 760 4,100 6.400 8.600 Office Salaries Expense Depreciation Expense-General Expense Interest Expense Loss on Asset Impairment 2,300 2,200
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