From the following partial data prepare an income statement showing
From the following partial data, prepare an income statement showing departmental income before tax along with net income for Jimmy’s Corporation for the year ended December 31, 201X.
Net Sales, TVs ............... $96,000
Net Sales, Washers .............. 24,000
Cost of Goods Sold, TVs .......... 36,000
Cost of Goods Sold, Washers ......... 16,000
Income tax rate 30%
TV Dept., 6,000 square feet
Washers, 6,000 squarefeet
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