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Using the following template, indicate using the letters indicated where each of the numbered items would appear on a multi-step income statement. If a
Using the following template, indicate using the letters indicated where each of the numbered items would appear on a multi-step income statement. If a particular item does not appear on an income statement, indicate such with N/A. On your Excel spreadsheet place numbers 1 through 10 in Column A and the appropriate letter in the corresponding cell in Column B. Sales A Gross Profit B Operating Income C Income from Continuing Operations before tax D Income from Continuing Operations E Net Income 1. Accounting Department Salaries and Wages Expense 2. 3. Cost of Goods Sold Dividends 4. Loss on Restructuring of Manufacturing Process 5. Impairment Loss on Held-for-Sale Component 6. Interest Income 7. Gain on Sale of Investment 8. Income Tax Expense 9. Advertising Expense 10. Deferred revenue
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