Question

From the following partial data, prepare an income statement showing departmental income before tax along with net income for Paul’s Corporation for the year ended December 31, 201X:
Net Sales, TVs ............. $86,400
Net Sales, Washers ............ 21,600
Cost of Goods Sold, TVs ........ 39,000
Cost of Goods Sold, Washers ....... 18,000
Income tax rate, 20%
TV Dept., 9,000 square feet
Washers, 3,000 squarefeet


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  • CreatedApril 24, 2014
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