An analysis of the transactions of Rutherford Company for the year ended December 31, yields the following information: sales revenue, $166,400; insurance expense, $4,300; interest income, $10,800; cost of goods sold, $71,300; salaries expense, $22,500; income taxes expense, $2,400; and loss on disposal of property, plant, and equipment, $1,200.

Required:

Prepare a single-step income statement.

Answer rating: 100% (QA)

A singlestep income statement is an income statement in wh... View the full answer