Priem penced accountant pred this condensed income tent for Cole Company, retail that has been in business for acumber of years. ORIOLE COMPANY Income Statement For the Year Ended December 31, 2017 Revenue Net sales 51.122.000 Other even 29,000 1.151,040 Cost of goods sold 732.600 rn 418.440 Operating expenses selling penses 10,000 135.900 279,840 S8600 As an experienced weate accountant, you review the statement and determine the following facts 1 et les cost of sales 51,702,520, streght out on merchandise od 54,560, and les returns and wines 56,960 2 Other revenues cost of sales discounts $23.760 and renteve $5,200 Sating person of salesperson salaries 5105,000, deprecationen gent $13,200. advertising 517,160 cm 7,020. The common represent comment December 30,960 of commission have been carried by alesperson but not been paid. All compensation de recorded as Sales and Wages Expense Administrative expenses cost of ottice alanes 562,040, dividends $23,760 utilities 515,640; inste 52,640 and rent expense 3.000, which includes prepayment totaling $7.920 for the first duarter of 2018 Prepare a correct detailed multiple step income statement. Assume a 25 tax rate this other novembre other und answers to decimal 5.125.) ORIOLE COMPANY Income Statement For the Year Ended December 31, 2017 Prima SA Animexperienced accountant prepared this condensed income statement for Orsole Company retail in that has been in business for a camber of years ORIOLE COMPANY Income Statement For the Year Ended December 31, 2017 evenues Net sales 51.122.000 Other event 29,040 1.151,040 Cost of goods sold 739,600 Grow profit 418,440 Operating expenses Selling expenses 143,6110 Administrative expenses 135,960 279,840 5138600 As an experienced knowledgeable accountant, you review the statement and determine the folowing facts 1 et sales cost of sales $1,202,520, ss freight out on merchandise od 543,560, and les returns and lowance 574,960. 2. Other revenues consist of sales discounts $23,760 and rent revenue $5,280 Saling penses of salespersons'salaries $105,600, depreciation on guipment $13,200, advertising $17,160, and sales commissions $7,920. The commission represent com December 31, $3,960 of commissions have been earned by alesperson but have not been paid. All compensation should be recorded as Saloties ind Wages Expense Administrative expenses consist of office salones $62,040, dividends $23,760; utilities $15,840; interest expense $2,640, and rentgens $1.600, which includes prepayments tang 7,920 for the first quarter of 2018 Prepare a correct detailed multiple step come statement. Assume a 29 takrate istotarreven before other expenses. Round answers to decimal places, 5.125.) ORIOLE COMPANY In Statement For the Year Ended December 31, 2017