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The work sheet for Callaho Inc. is shown below. Complete the classified multi-step income statement on the right Callaho Inc income Statement For the year
The work sheet for Callaho Inc. is shown below. Complete the classified multi-step income statement on the right Callaho Inc income Statement For the year ended December 31, 2014 ++ + Balance Sheet and Income Statement of Statement Changes in Equity Debit Credit Debit Credit Accumulated Depreciation, Office Equipment 43,000 Accumulated Depreciation, Office Fixtures 74,000 Cost Of Goods Sold 54,000 Depreciation Expense, Office Equipment 13,500 Depreciation Expense, Office Fixtures 19,500 Dividends 33,500 Income Taxes Expense 7,900 Income Taxes Payable 7,900 Interest Expense 11,500 Liabilities 502,000 Merchandise Inventory. 89,000 Office Equipment 145,500 Office Fixtures 668,000 Office Salaries Expense 41,500 Office Supplies Expense 71,500 Rent Earned 202,500 Retained Earnings 147,500 Sales 306,500 Sales Discounts 21,000 Sales Returns and Allowances 14,500 Sales Salaries Expense 134,000 Share Capital 130,000 Store Supplies Expense. 88,500 Totals 477,400 509.000 936.000 904.400 Net Income 31,600 31,600 Totals 509,000 509,000 936 000 936.000
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