Question
In its income statement for the year ended December 31, 2020, Bramble Corp. reported the following condensed data. Operating expenses $ 734,620 Interest revenue $
In its income statement for the year ended December 31, 2020, Bramble Corp. reported the following condensed data.
Operating expenses | $ 734,620 | Interest revenue | $ 32,650 | |||
---|---|---|---|---|---|---|
Cost of goods sold | 1,336,500 | Loss on disposal of plant assets | 19,160 | |||
Interest expense | 71,360 | Net sales | 2,406,400 | |||
Other comprehensive income | 7,380 |
(a)
Prepare a multiple-step income statement. (List other revenues before other expenses. If there is a net loss then enter the amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Bramble Corp. Income Statement choose the accounting period For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020 | ||||
---|---|---|---|---|
select an income statement item Net SalesOperating ExpensesIncome from OperationsTotal ExpensesTotal RevenuesCost of Goods SoldOther Revenues and GainsGross ProfitRetained Earnings, December 31, 2020DividendsRetained Earnings, January 1, 2020Net Income / (Loss)ExpensesSales RevenuesOther Expenses and Losses | $enter a dollar amount | |||
enter an income statement item | enter a dollar amount | |||
select a summarizing line for the first part ExpensesGross ProfitTotal RevenuesSales RevenuesIncome from OperationsOther Expenses and LossesTotal ExpensesCost of Goods SoldRetained Earnings, January 1, 2020Net SalesDividendsOperating ExpensesNet Income / (Loss)Retained Earnings, December 31, 2020Other Revenues and Gains | enter a total amount for the first part | |||
enter an income statement item | enter a dollar amount | |||
select a summarizing line for the second part Other Expenses and LossesNet SalesExpensesCost of Goods SoldNet Income / (Loss)Retained Earnings, December 31, 2020Operating ExpensesIncome from OperationsDividendsSales RevenuesTotal ExpensesRetained Earnings, January 1, 2020Gross ProfitTotal RevenuesOther Revenues and Gains | enter a total amount for the second part | |||
select an opening name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, January 1, 2020Retained Earnings, December 31, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome from OperationsOther Revenues and GainsOther Expenses and LossesCost of Goods Sold | ||||
enter an income statement item | $enter a dollar amount | |||
select an opening name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, January 1, 2020Retained Earnings, December 31, 2020Sales RevenuesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome from OperationsOther Revenues and GainsOther Expenses and LossesCost of Goods Sold | ||||
enter an income statement item | $enter a dollar amount | |||
enter an income statement item | enter a dollar amount | |||
enter a subtotal of the two previous amount | enter a total amount for all three parts | |||
select a closing name for this statement Income from OperationsRetained Earnings, January 1, 2020Net Income / (Loss)ExpensesOperating ExpensesTotal ExpensesTotal RevenuesRetained Earnings, December 31, 2020Net SalesSales RevenuesGross ProfitOther Revenues and GainsCost of Goods SoldOther Expenses and LossesDividends | $enter a total net income or loss amount |
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