Question
Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $2,200; Cost of Goods
Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $2,200; Cost of Goods Sold, $21,600; Income Tax Expense, $2,980; Interest Expense, $1,500; Interest Revenue, $180; General Expenses, $2,400; Net Sales Revenue, $36,200; and Delivery (freight-out) Expense, $280. Prepare a multistep income statement for distribution to external financial statement users.
I need values for:
Net sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Income from Operations
Interest Expense
Interest Revenue
Income before Income Tax Expense
Income Tax Expense
Net Income
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