Question
The following information was taken from the adjusted trial balance of Lucifer Lighting Inc. at December 31, 2022. All accounts have normal balances. ...... Accounts
The following information was taken from the adjusted trial balance of Lucifer Lighting Inc. at December 31, 2022. All accounts have normal balances.
...... Accounts payable.................................................... $ 52,000
...... Accounts receivable.................................................... 18,700
...... Accumulated depreciationBuilding.......................... 44,900
...... Advertising expense.................................................... 38,500
...... Building...................................................................... 600,000
...... Cash............................................................................ 85,000
Common shares........................................................ 417,500
Cost of goods sold.................................................... 410,500
Depreciation expense................................................. 12,000
Freight out................................................................... 22,000
Interest expense............................................................ 5,700
Interest income............................................................. 2,000
Rental revenue............................................................. 6,000
Retained earnings, Jan 1.......................................... 154,800
Salaries expense...................................................... 279,500
Salaries payable.......................................................... 5,200
Sales ....................................................................... 761,300
Utilities expense .......................................................... 9,200
Instructions
Use the above information to prepare a multiple-step statement of income for the year ended December 31, 2022. A template is provided below.
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