Single-Step Income Statement

Brandt Corporation had sales revenue of $400,000 for the current year. For the year, its cost of goods sold was $250,000, its operating expenses were $30,000, its interest revenue was $2,000, and its interest expense was $12,000. Brandt's income tax rate is 30%.

Prepare a single-step income statement for Brandt Corporation for the current year.

BRANDT CORPORATION
Income Statement
For Year Ended December 31, Current Year
Revenues
		$
		$
Expenses
	$
		$