Question
Question 3: The following data include all the elements from Cambridge Company income statement: *Administrative Expense $867 *Cost of Goods Sold 3622 * Gain on
Question 3: The following data include all the elements from Cambridge Company income statement:
| *Administrative Expense | $867 |
| *Cost of Goods Sold | 3622 |
| * Gain on Sale of Securities | 623 |
|
|
|
| *Income Tax Expense | 1,234 |
| Loss on Discontinued Operations (net | 1,229 |
| *Loss on Disposal of Equipment | 237 |
| *Sales Revenue | 8744 |
| *Selling Expense | 1,425 |
| *Financing cost
| 1500
|
*Prepare Income statement in a good format.
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Integrated Audit Practice Case
Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens
5th Edition
0912503351, 9780912503356
