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Wayman Corporation reports the following amounts in its December 31, 2021, Income statement. Sales revenue Interest expense Salaries expense Utilities expense $390,000 Income tax expense
Wayman Corporation reports the following amounts in its December 31, 2021, Income statement. Sales revenue Interest expense Salaries expense Utilities expense $390,000 Income tax expense 20,000 Cost of goods sold 40,000 Advertising expense 50,000 $ 50,000 130,000 30,000 Required: Prepare a multiple-step Income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2021 Advertising expense Cost of goods sold Income tax expense Interest expense Salaries expense Total operating expenses Operating income
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