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I need help correcting the red box. I tried 54000 and 58000 and both were incorrect. Exercise 5-11 In its income statement for the year
I need help correcting the red box. I tried 54000 and 58000 and both were incorrect.
Exercise 5-11 In its income statement for the year ended December 31, 2022, Pina Colada Corp. reported the following condensed data. Operating expenses Cost of goods sold Interest expense Income tax expense $ 723,000 Interest revenue 1,259,000 Loss on disposal of plant assets 74,000 Net sales 49,000 Other comprehensive income (net of $1,200 tax) $ 36,000 20,000 2,202,000 8,600 Your answer is partially correct. Try again. Prepare a multiple-step income statement. Pina Colada Corp. Income Statement For the Year Ended December 31, 2022 A Net Sales 2202000 Cost of Goods Sold 1259000 Gross Profit 943000 Operating Expenses 723000 Income From Operations 220000 Other Revenues and Gains Interest Revenue 36000 Other Expenses and Losses Interest Expense 74000 Loss on Disposal of Plant Assets 20000 54000 Income before Income Taxes | 162000 Income Tax Expense 49000 Net Income / (Loss) 113000Step by Step Solution
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