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General ledgers The following selected accounts from the Tamarisk, Inc.s general ledger are presented below for the year ended December 31, 2022: Advertising expense $
General ledgers The following selected accounts from the Tamarisk, Inc.s general ledger are presented below for the year ended December 31, 2022:
Advertising expense | $ 57,000 | Interest revenue | $ 34,000 | |||
---|---|---|---|---|---|---|
Common stock | 252,000 | Inventory | 69,000 | |||
Cost of goods sold | 1,087,000 | Rent revenue | 24,000 | |||
Depreciation expense | 127,000 | Retained earnings | 537,000 | |||
Dividends | 152,000 | Salaries and wages expense | 676,000 | |||
Freight-out | 27,000 | Sales discounts | 8,700 | |||
Income tax expense | 72,000 | Sales returns and allowances | 45,000 | |||
Insurance expense | 15,000 | Sales revenue | 2,401,000 | |||
Interest expense | 71,000 |
Prepare a multiple-step income statement.
The following selected accounts from the Tamarisk, Inc's general ledger are presented below for the year ended December 31, 2022: Advertising expense $57,000 Interest revenue $ 34,000 Common stock 252,000 Inventory 69,000 Cost of goods sold 1,087,000 Rent revenue 24,000 Depreciation expense 127,000 Retained earnings 537,000 Dividends 152,000 Salaries and wages expense 676,000 Freight-out 27,000 Sales discounts 8.700 45,000 Income tax expense 72.000 Sales returns and allowances Insurance expense 15,000 Sales revenue 2,401,000 Interest expense 71,000 Prepare a multiple-step income statement. Tamarisk, Inc Income Statement For the Year Ended December 31, 2022 2400000 Sales Decount s Sales Returns and Allowances L 49000 Net Sales Sales Revenue Gros Pront Operating BencesStep by Step Solution
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