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Please answer the following question. The choices are in the last two pictures. Exercise 5-10 (Part Level Submission) In its income statement for the year
Please answer the following question. The choices are in the last two pictures.
Exercise 5-10 (Part Level Submission) In its income statement for the year ended December 31, 2019, Kingbird, Inc. reported the following condensed data. Interest revenue Operating expenses Cost of goods sold $ 736,070 1,314,300 74,650 Loss on disposal of plant assets $ 31,590 18,990 2,415,700 7,100 Interest expense Net sales Other comprehensive income Prepare a single-step income statement. Kingbird, Inc. Income Statement $ . $ Dividends Expenses Net Income / (Loss) Retained Earnings, January 1, 2019 Retained Earnings, December 31, 2019 Revenues Total Expenses Total Revenues Net Sales Interest Revenue Total Revenues Net Sales Expenses Interest Revenue Dividends Revenues Retained Earnings, January 1, 2019 Net Income / (Loss) Retained Earnings, December 31, 2019 Total ExpensesStep by Step Solution
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