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The adjusted trial balance of Pacific Scientific Corporation on December 31, 2024, the end of the company's fiscal year, contained the following income statement items
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2024, the end of the company's fiscal year, contained the following income statement items ($ in millions): sales revenue, $2,155; cost of goods sold, $1,350; selling expense, $170; general and administrative expense, $160; interest expense, $35; and gain on sale of investments, $80. Income tax expense has not yet been recorded. The income tax rate is 25%.
The adjusted trial balance of Pacific Scientific Corporation on December 31,2024 , the end of the companys fiscal year, contained the administrative expense, $160; interest expense, $35; and gain on sale of investments, $80 income taxexpense has not yet been recorded. The income tax rate is 25% Prepare a singlestep income statement. Note: Enter your onswers in millions (i.e., 10,000,000 should be entered os 10)
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2024, the end of the company's fiscal year, contained the following income statement items ($ in millions): sales revenue, $2,155; cost of goods sold, $1,350; selling expense, $170; general and administrative expense, $160; interest expense, $35; and gain on sale of investments, $80. Income tax expense has not yet been recorded. The income tax rate is 25%.
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