Question: From the following partial data, prepare an income statement showing departmental income before tax along with net income for Jack?s Corporation for the year ended
From the following partial data, prepare an income statement showing departmental income before tax along with net income for Jack?s Corporation for the year ended December 31, 201X.
Net Sales, TVs |
$66,000 |
Net Sales, Washers |
33,000 |
Cost of Goods Sold, Tvs |
38,000 |
Cost of Goods Sold, Washers |
15,000 |
Income tax rate, 30% |
|
TV Dept., 6,000 square feet |
|
Washers, 2,000 square feet |

Basis of Allocation Sales Salary Expense $5,100 Net Sales Building Expense 4,200 Square Footage Delivery Expense 2,100 Net Sales Depreciation Expense 1,600 Square Footage
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