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In its income statement for the year ended December 31, 2022, Pharoah Company reported the following condensed data. Salaries and wages expenses $595,200 Loss on
In its income statement for the year ended December 31, 2022, Pharoah Company reported the following condensed data.
Salaries and wages expenses | $595,200 | Loss on disposal of plant assets | $106,880 | |||
Cost of goods sold | 1,263,360 | Sales revenue | 2,828,800 | |||
Interest expense | 85,200 | Income tax expense | 32,000 | |||
Interest revenue | 83,200 | Sales discounts | 204,800 | |||
Depreciation expense | 396,800 | Utilities expense | 140,800 |
Prepare a multiple-step income statement. (List other revenues before other expenses.)
Prepare a multiple-step income statement. (List other revenues before other expenses.) Pharoah Company Income Statement For the Year Ended December 31, 2022 Sales Sales Revenue $ 2,828,800 Less V: Sales Discounts 204,800 i Net Sales $ Cost of Goods Sold 12 Gross Profit Operating Expenses Salaries and Wages Expense 595,200 Depreciation Expense 396,800 Utilities Expense 140.800 Total Operating Expenses 113 Income From Operations Other Revenues and Gains Interest Revenue Other Expenses and Losses V Interest Expense 85,200 Loss on Disposal of Plant Assets 106,880 19 Income Before Income Taxes Income Tax Expense 3 Net Income /(Loss) $ e Textbook and Media Assistance Used List of Accounts Save for Later Last saved 15 hours ago. Attempts: 2 of 5 used Submit Answer Saved work will be auto-submitted on the due date. (b) The parts of this question must be completed in order. This part will be available when you complete the part above
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