Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 of 5 -73. You are provided with the following information for Pronghorn Enterprises, effective as of its April 30, 2022, year-end. Accounts

image text in transcribedimage text in transcribed

Question 3 of 5 -73. You are provided with the following information for Pronghorn Enterprises, effective as of its April 30, 2022, year-end. Accounts payable $904 Accounts receivable 970 Accumulated depreciation-equipment 670 Cash 1,430 Common stock 1,380 Cost of goods sold 1,130 Depreciation expense 265 Dividends 395 Equipment 2,580 Income tax expense 235 Income taxes payable 205 Insurance expense 280 Interest expense 470 Inventory 1,127 Land 3,260 Mortgage payable 3,660 Notes payable (due March 31, 2023) 221 Prepaid insurance 130 Retained earnings (beginning) 1,600 Salaries and wages expense 630 Salaries and wages payable 292 Sales revenue 5,260 Stock investments (short-term) 1,290 Prepare an income statement for Pronghorn Enterprises for the year ended April 30, 2022. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45).) PRONGHORN ENTERPRISES Income Statement April 30, 2022 Expenses Revenues

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475

More Books

Students also viewed these Accounting questions