The account balances and single-step income statement for

Spark's Electrical SupplySpark's Electrical Supply,

Inc., for the year ended

AugustAugust

31,

20182018,

are presented below:

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(Click the icon to view the single-step income statement.)

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(Click the icon to view the account balances listing.)Read the requirements

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.

Requirement 1. Prepare

Spark's Electrical SupplySpark's Electrical Supply,

Inc.'s multistep income statement.

	Spark's Electrical Supply, Inc.
	Income Statement
	For the Year Ended August 31, 2018

Net income (loss)

Spark's Electrical Supply, Inc. Income Statement For the Year Ended August 31, 2018 Revenues: Sales revenue $ 271,600 Expenses: Cost of goods sold $ 123,700 Selling expenses 37,000 General expenses 24,500 750 Interest expense 185,950 Total expenses 85,650 Net income (loss) $ $ Cash 123,700 13,700 2,350 271,600 5,100 Equipment Accounts payable Common stock Long-term notes payable General expenses Salaries payable Supplies Building Estimated refund liability Prepaid rent Interest expense. Retained earnings 6,450 Cost of goods sold 48,800 Accumulated depreciation, 5,800 equipment 35,000 Unearned revenues 10,000 Sales revenue.. 24,500 Accounts receivable 1,450 Accumulated depreciation, 950 building 135,000 Mortgage payable (long-term) 2,300 Dividends 1,750 Estimated inventory returns 750 Selling expenses 40,450 Inventory 38,000 25,900 45,000 1,500 37,000 16,050 E4-23A (book/static) The account balances and single-step income statement for Spark's Electrical Supply, Inc., for the year ended August 31, 2018, are presented below: 2 (Click the icon to view the single-step income statement.) : (Click the icon to view the account balances listing.) Read the requirements. Requirement 1. Prepare Spark's Electrical Supply, Inc.'s multistep income statement. Spark's Electrical Supply, Inc. Income Statement For the Year Ended August 31, 2018