the boxes are in order so they should correlate

An inexperienced accountant prepared this condensed income statement for Simon Company, a retail firm that has been in business for a number of years SIMON COMPANY Income Statement For the Year Ended December 31, 2022 Revenues Net sales $850,000 Other revenues 22.000 872.000 555.000 Cost of goods sold Gross pront 317,000 Operating expenses Selling expenses 109.000 Administrative expenses 103.000 212.000 Notarings $105.000 As an experienced, knowledgeable accountant, you review the statement and determine that the following steps were taken by the accountant to compute the amounts presented in the income statement As an experienced, knowledgeable accountant, you review the statement and determine that the following steps were taken by the accountant to compute the amounts presented in the income statement 1. 2 3 Net sales, as presented, consist of sales $911,000, less freight-cut on merchandise sold $33.000, and sales returns and allowances $28.000 Other revenues, as presented.consist of sales discounts $18,0and rent revenue 54,000. Selling expenses, as presented. consist of salespersons salaries $80.000, depreciation on equipment 510.000, advertising $13,000, and sales commissions $6,000. The commissions represent commissions paid. At December 31, $3.000 of commissions have been earned by salespersons but have not been paid. All compensation should be recorded as Salaries and Wages Expense. Administrative expenses, as presented, consist of office salaries 547/000; dividends $18.000; utilities $12.000, interest expense $2.000and rent expense $24,000, which includes prepayments totaling $6,000 for the first quarter of 2018 4. Prepare a correct detailed multiple-step income statement. Assume a 25% tax rate (List other revenues before other expenses. Round answers to O decimal places, eg. 5.125.) SIMON COMPANY Income Statement December 31, 2022 Sales Income Statement December 31, 2022 Sales Sales 911000 Less : $ . . Net Income /(Loss) 64500