Question: 9 Flags Mini Theme Parks, Inc. provided you with the following data for their operating year ended December 31, 2020: Net sales..... $12,325,850 Discontinued
9 Flags Mini Theme Parks, Inc. provided you with the following data for their operating year ended December 31, 2020: Net sales..... $12,325,850 Discontinued operations loss (before taxes). 4,120,000 Cost of goods sold. 3,210,000 Interest expense.. 532,810 Selling expenses.. 1,062,700 Administrative expenses.. 2,342,090 Shares of capital stock outstanding, 150,000 Tax rate of 40% on all items Required: Using a multiple-step format, prepare an income statement rounded to the nearest dollar for 9 Flags Mini Theme Parks, Inc. for the year ended December 31, 2020.
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