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The following information is available for Swifty Corporation for the year ended December 31, 2022: cost of goods sold $205,000, sales revenue $438,000, other revenues
The following information is available for Swifty Corporation for the year ended December 31, 2022: cost of goods sold $205,000, sales revenue $438,000, other revenues and gains $47,500, and operating expenses $76,000. Assuming a corporate tax rate of 20%, prepare an income statement for the company. SWIFTY CORPORATION Income Statement For the Year Ended December 31, 2022 Sales Revenue $ 438,000 Cost of Goods Sold 205,000 Gross Profit/(Loss) Operating Expenses 76,000 Income from Operations Other Revenues and Gains Income before Income Taxes Income Tax Expense Net Income /(Loss) $
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