Question
The following selected accounts from the Skysong, Inc.'s general ledger are presented below for the year ended December 31, 2022: Advertising expense $46,000Interest revenue $
The following selected accounts from the Skysong, Inc.'s general ledger are presented below for the year ended December 31, 2022:
Advertising expense
$46,000Interest revenue
$ 24,000Common stock
241,000Inventory
58,000Cost of goods sold
1,076,000Rent revenue
24,000Depreciation expense
116,000Retained earnings
526,000Dividends
141,000Salaries and wages expense
666,000Freight-out
16,000Sales discounts
7,900Income tax expense
61,000Sales returns and allowances
35,000Insurance expense
15,000Sales revenue
2,391,000Interest expense
61,000
Prepare a multiple-step income statement.
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