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NEED answer A and B both E5-3. Condensed Statement of Net Income. Bradley Corporation provided the following account balances as of the end of the
NEED answer A and B both
E5-3. Condensed Statement of Net Income. Bradley Corporation provided the following account balances as of the end of the current year. The company is subject to a 40% income tax rate. Bradley Corporation Trial Balance (Selected Accounts) For the Year Ended December 31 Account Debit Credit Dividends $13,200 Sales $1,245,890 Interest Income 6,700 Dividend Income 5,400 Unrealized Gain on Trading Securities 12,000 Gain on Disposal of Plant Assets 16,700 18,700 Gain on Flood Damage-Before Tax Gain on Discontinued Operations Before Tax 30,000 Cost of Goods Sold 65,000 Sales Salaries Expense 32,500 Office Supplies Expense 21,500 Advertising Expense 79,500 Office Salaries Expense 23,500 18,900 75,000 Systems Consulting Fees-General Selling Expenses Accounting and Legal Fees Administrative Depreciation ExpenseGeneral 34,500 89,750 Amortization Expense-General 12,000 Interest Expense 14,000 Loss on Asset Impairment 58,900 Unrealized Loss on Available-for-Sale Bonds 6,080 Required >> a. Prepare a condensed, multiple-step statement of net income for the current year ended December 31. b. Prepare a footnote containing the supporting schedules needed for the condensed statement of net income formatStep by Step Solution
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