Multi-Step Income Statement - four (4) questions Instructions: Please prepare a Multi-Step Income Statement on your scratch paper based on the following Partial Adjusted Trial Balance. Use this multi-step income statement to answer this question and the next three (3) questions. You will need to know the amounts for net sales, gross profit, operating income, and net income after taxes. Adjusted Trial Balance As of 12/31/20xx Accounts Normal Account Balance Cash $25,755 Accounts Receivable 24,500 Allowance for Uncollectible 3,000 Accounts Inventory 35,000 Deferred Revenue 10,000 Common Stock 50,000 Retained Earnings 10,000 Service Revenue 75,000 Sales Discounts 1,124 Cost of Goods Sold 50,104 Rent Expense 5,131 Interest Expense 14,000 Income Tax Expense 3,000 Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Net" Sales on the Multi-step Income Statement for the period ending 12/31/xx? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Gross Profit" on the Multi-step Income Statement for the period ending 12/31/xx? Fill in the blank with your calculated number. DO NOT include commas. $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Operating Income" on the Multi-step Income Statement for the period ending 12/31/xx? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Net Income After-Taxes" on the Multi-step'Income Statement for the period ending 12/31/xx? Fill in the blank with your calculated number. DO NOT include commas. $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123
