Purchase Solution

Multiple Step Income Statement for Company B

Not what you're looking for?

Ask Custom Question

Use the appropriate information from the data below to prepare a multiple step income statement for Company B for the year ended Dec 31,2002. Assume an income tax rate of 30%.

Cost of goods Sold 84,000
General and administrative expense 20,000
Net cash provided by financing activities 69,000
Dividends paid 16,000
Extraordinary loss from a flood, net of tax 55,000
Other selling expenses 14,000
Net sales 228,000
Interest expense 10,000
Accounts receivable 33,000.

Purchase this Solution

Solution Summary

In the attached Excel worksheet, the multiple step income statement for Company B is presented in good form.

Solution Preview

Please see the attached file.

Company B
Multiple Step Income Statement

Sales 228,000.00
Cost of goods sold 84,000.00
Gross profit 144,000.00

Operating ...

Purchase this Solution

Free BrainMass Quizzes
Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.


This tests some key elements of major motivation theories.


This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)