Income Statement
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With the given information, please prepare an Income Statement using good form.
Selling , general and administrative expenses $51,000
Accounts payable 85,000
Extraordinary gain from early retirement of bonds net of tax expenses of $28,000 132,000
Research and development expenses 37,000
Loss from discontinued operations net tax savings of $5,000 21,000
Provision for Income taxes 74,000
Net Sales 579,000
Interest expense 64,000
Net cash provided by operations 148,000
Less Cost of goods sold 272,000
Please see attached for information table.
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Solution Summary
Prepares Income Statement using the data.
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