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Please fill according to the blanks. Thank you Selling Expenses 128,000 General and administrative expenses 150,000 Total Operating Expenses 278000 Other Income and Expense Income
Please fill according to the blanks. Thank you
Selling Expenses 128,000 General and administrative expenses 150,000 Total Operating Expenses 278000 Other Income and Expense Income from operations 121000 Income from operations Dividend Revenue Interest Expense Income Before Income Taxes Income Taxes The amount of income taxes applicable to ordinary income was 33,600, excluding the tax effect of the discontinued operatio which amounted to \12,000. (a) Prepare an income statement Wang Corporation INCOME STATEMENT For the Year Ended December 31, 2022 Sales W 1,050,000 Cost of Goods Sold 651,000 Gross Profit/(Loss) 399000 Selling Expenses 128,000 Unearned service revenue 4,400 Accrued interest payable 1,000 Land 370,000 Patents 100,000 Retained earnings, January 1, 2022 290,000 Interest expense 17,000 General and administrative expenses 150,000 Dividends declared 29,000 Allowance for doubtful accounts 5,000 Notes payable (maturity 7/1/25) 200,000 Machinery and equipment 450,000 Materials and supplies 40,000 Accounts payable 60,000 The amount of income taxes applicable to ordinary income was 33,600, excluding the tax effect of the discontinued operations loss which amounted to 12000 Wang Corporation's capital structure consists of 40,000 ordinary shares. At December 31, 2022 an analysis of the accounts and discussions with company officials revealed the following information: Sales 1,050,000 Purchase discounts 18,000 Cost of goods sold 651,000 Loss on discontinued operations (net of tax) 28,000 Selling expenses 128,000 Cash 60,000 Accounts receivable 90,000 Share capital 200,000 Accumulated depreciation 180,000 Dividend revenue 8,000 Inventory, January 1, 2022 152,000 Inventory, December 31, 2022 125,000 Income Taxes Net Income /(Loss) Per share of share capital Income from Continuing Operations Discontinued Operations, Net of Tax Net Income /(Loss) W Selling Expenses 128,000 General and administrative expenses 150,000 Total Operating Expenses 278000 Other Income and Expense Income from operations 121000 Income from operations Dividend Revenue Interest Expense Income Before Income Taxes Income Taxes The amount of income taxes applicable to ordinary income was 33,600, excluding the tax effect of the discontinued operatio which amounted to \12,000. (a) Prepare an income statement Wang Corporation INCOME STATEMENT For the Year Ended December 31, 2022 Sales W 1,050,000 Cost of Goods Sold 651,000 Gross Profit/(Loss) 399000 Selling Expenses 128,000 Unearned service revenue 4,400 Accrued interest payable 1,000 Land 370,000 Patents 100,000 Retained earnings, January 1, 2022 290,000 Interest expense 17,000 General and administrative expenses 150,000 Dividends declared 29,000 Allowance for doubtful accounts 5,000 Notes payable (maturity 7/1/25) 200,000 Machinery and equipment 450,000 Materials and supplies 40,000 Accounts payable 60,000 The amount of income taxes applicable to ordinary income was 33,600, excluding the tax effect of the discontinued operations loss which amounted to 12000 Wang Corporation's capital structure consists of 40,000 ordinary shares. At December 31, 2022 an analysis of the accounts and discussions with company officials revealed the following information: Sales 1,050,000 Purchase discounts 18,000 Cost of goods sold 651,000 Loss on discontinued operations (net of tax) 28,000 Selling expenses 128,000 Cash 60,000 Accounts receivable 90,000 Share capital 200,000 Accumulated depreciation 180,000 Dividend revenue 8,000 Inventory, January 1, 2022 152,000 Inventory, December 31, 2022 125,000 Income Taxes Net Income /(Loss) Per share of share capital Income from Continuing Operations Discontinued Operations, Net of Tax Net Income /(Loss) WStep by Step Solution
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