In its income statement for the year ended December 31, 2022, Laine Inc. reported the following condensed
Question:
In its income statement for the year ended December 31, 2022, Laine Inc. reported the following condensed data.
Instructions
Prepare a multiple-step income statement.
Transcribed Image Text:
Operating $ Interest revenue $ expenses 725,000 33,000 Loss on disposal of plant assets Cost of 1,256,000 17,000 goods sold Interest 70,000 Net sales 2,200,000 expense Income tax 47,000 expense
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