Green Light Emissions Everyday (otherwise known as GLEE Corporation) has sales of $400,000 and COGS of $120,000 for the year ended December 31, 2023. It also has selling expenses of $80,000 and administrative expenses of $20,000. Required Prepare an income statement under ASPE taking into account income tax expense. Assume a tax rate of 30%.

Green Light Emissions Everyday (otherwise known as GLEE Corporation) has sales of $400,000 and COGS of $120,000 for the year ended December 31, 2023.
It also has selling expenses of $80,000 and administrative expenses of $20,000.
Required Prepare an income statement under ASPE taking into account income tax expense. Assume a tax rate of 30%.

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