Question
Prepare a comparative income statement for Blackstone Corporation for the years ended December 31, 2022, and 2023. In 2022, the company reported sales revenue of
· Prepare a comparative income statement for Blackstone Corporation for the years ended December 31, 2022, and 2023. In 2022, the company reported sales revenue of $1,500,000, cost of goods sold of $600,000, operating expenses of $300,000, and net income of $300,000. In 2023, sales revenue increased to $2,000,000, with cost of goods sold amounting to $750,000 and operating expenses totaling $400,000. Calculate the gross profit, operating income, and net income for each year and highlight key changes and trends over the two-year period.
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