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The following list of items was extracted from the December 31, 2020, trial balance of Future Products Corp. Use the following information. Credit Debit $100,370
The following list of items was extracted from the December 31, 2020, trial balance of Future Products Corp. Use the following information. Credit Debit $100,370 118,546 28, 200 $941,790 Salaries expense Income tax expense (continuing operations) Loss from operating Division C (net of $11,580 tax benefit) Sales Total effect on prior years' profit of change from declining balance to straight-line depreciation (net of $14,160 tax) Gain on provincial condemnation of land owned by Future Depreciation expense Gain on sale of Division C (net of $23,560 tax) Cost of goods sold 42,840 104,000 72,090 74,400 480, 220 Prepare the company's multiple-step income statement for 2020. (Enter all amounts as positive values.) FUTURE PRODUCTS CORP. Income Statement For Year Ended December 31, 2020 Operating expenses: Total operating expenses Other revenues/expenses: Discontinued operations
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