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What does the single step income statement look like and what is the operating income? The Filzinger Corporation's December 31, 2021 year-end trial balance contained
What does the single step income statement look like and what is the operating income?
The Filzinger Corporation's December 31, 2021 year-end trial balance contained the following income statement items: Debits Credits 6,675,880 69,000 51,000 Account Title Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expense General and administrative expense Interest expense Research and development expense Income tax expense 4,250,000 330,000 943,000 29,000 580,000 144,000 Required: Calculate the company's operating income for the year using a single-step income statement format Income Statement $ 6,675,000 Sales revenue Less operating expensesStep by Step Solution
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