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Hi can someone please help me with this problem for accounting class? Thank you very much. LOT Corporation's accounting records include the following items, listed
Hi can someone please help me with this problem for accounting class? Thank you very much.
LOT Corporation's accounting records include the following items, listed in no particular order, at December 31, 2018: (Click the icon to view the data.) The income tax rate for LOT Corporation is 30%. Prepare LOT's Income statement for the year ended December 31, 2018. Omit earnings per share. Use the multi-step format. Prepare the income statement through the income before taxes, then complete the income statement through the net income. (Use parentheses or a minus sign to enter amounts for Other Expenses.) - LOT Corporation Income Statement Year Ended December 31, 2018 Data table $ (12,000) Cast of Goods Sold 80.000 Other Income and (Expenses) Net Sales Revenue Gain on Discontinued Operations 172,000 Operating Expenses 45.000 10,000 Print Done Income Before Income Taxes Net IncomeStep by Step Solution
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