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I have the spreadsheet downloaded. I am new to this and don't know how to make an income statement so need assistance, thank you The
I have the spreadsheet downloaded. I am new to this and don't know how to make an income statement so need assistance, thank you
The following list is a partial list of account balances for Company A as at December 31, 20x0: 5,000 35,000 14,000 Accounts payable Accounts receivable Accumulated depreciation Advertising expense Cash Common stock Cost of goods sold Depreciation expense Dividends paid Furniture and fixtures Income tax expense Interest expense Lease expense - office equipment Maintenance expense Office supplies Office supplies expense Prepaid advertising expense Prepaid insurance expense Rent expense Salaries 3,000 18,350 80,000 187,250 7,000 18,000 70,000 36,920 2,600 14,400 2,600 1,560 3,600 800 12,400 48,000 68,000 expense Salaries payable Sales revenue 2,450 489,250 Required - Prepare a Statement of Income in good formStep by Step Solution
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