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Required homework 3 Problem 1 BE4.3 on page 4-29 Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2020. Expenses for
Required homework 3 Problem 1 BE4.3 on page 4-29 Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2020. Expenses for 2020 were cost of goods sold $1,450,000, administrative expenses $212,000, selling expenses $280,000 and interest expenses $45,000. Brisky's tax rate is 30%. The corporation had 100,000 shares of common stock authorized and 70,000 share issues and outstanding during 2020 (hint: use 70,000 shares outstanding to calculate EPS). Prepare a condensed multiple-step income statement for Brisky Corporation for the year ended December 31, 2020
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