Tisdale Incorporated reports the following amounts in its December 31, 2024, income statement. Required: 1. Prepare a multiple-step income statement 2. Indicate whether the statement "Tisdale Incorporated does not appear to have much profit-generating potential." is true or fals Complete this question by entering your answers in the tabs below. Prepare a multiple-step income statement. (Losses should be indicated by a minus sign.) Brief Exercise 6-11 (Algo) Record freight charges for inventory using a perpetual system (LO6-5) Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $36,000 In addition to the cost of inventory, the company also pays $560 for freight charges associated with the purchase on the same day Record (a) the purchase of inventory on account and (b) payment of freight charges. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the purchase of inventory on account. Note: Enter debits before credits. Brief Exercise 68 (Algo) Calculate ending inventory and cost of goods sold using specific identification (LO3) During the year, Wright Company sells 435 remote-control airplanes for $120 each. The company has the following inventory purchas transactions for the year. Calculate ending inventory and cost of goods sold for the year, assuming the company uses specific identification. Actual sales by the company include its entire beginning inventory, 225 units of inventory from the May 5 purchase, and 170 units from the November 3 purchase