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Introduction to Financial Accounting Multistep Income Statement Problem Fall Family Fun is a pumpkin patch that reported the following account balances on December 31,
Introduction to Financial Accounting Multistep Income Statement Problem Fall Family Fun is a pumpkin patch that reported the following account balances on December 31, 2019. Use this information to create Fall Family Fun's income statement for the year ended December 31, 2019. Advertising expense 2,500 Cost of goods sold 21,200 Income tax expense 1,900 Insurance expense 5,500 Interest expense 1,100 Interest revenue 900 Loss due to storm damage 37,000 Rent expense 6,000 Revenue 95,400 Salaries expense 12,700 Supplies expense 1,600 Utilities expense 2,100 Fall Family Fun Income Statement For the year ended December 31, 2019 Operating expenses: Total operating expenses Other income/expense (non-operating items):
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