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The following information is available for Windsor, Inc. for the year ended December 31, 2022: Other revenues and gains $10,700 Sales revenue $672,400 Other expenses
The following information is available for Windsor, Inc. for the year ended December 31, 2022: Other revenues and gains $10,700 Sales revenue $672,400 Other expenses and losses 13,000 Operating expenses 244,800 Cost of goods sold 251,500 Sales returns and allowances 40,000 Other comprehensive income 5,500 Prepare a multiple-step income statement for Windsor, Inc. and comprehensive income statement. The company has a tax rate of 30%. This rate also applies to the other comprehensive income. Windsor, Inc. Income Statement For the Year Ended December 31, 20227 Sales Sales Revenue 672,400 Less 4 : Sales Returns and Allowances 40,000 Net Sales 632,400 Cost of Goods Sold 251,500 i Gross Profit 380,900 Operating Expenses 244,800 i Income From Operations 136,100 Gross Profit 380,900 Operating Expenses 244,800 i Income From Operations 136,100 Other Revenues and Gains 10,700 Other Expenses and Losses 13,000 i Income before Income Taxes Income Tax Expense Net Income /(Loss) Windsor, Inc. Comprehensive Income Statement For the Year Ended December 31, 2022 Net Income /(Loss) Other Comprehensive Income /(Loss) | Comprehensive Income /(Loss)
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