Question: In 2 0 2 2 , Pina Colada Corp. had net sales of $ 6 1 0 , 0 0 0 and cost of goods

In 2022, Pina Colada Corp. had net sales of $610,000 and cost of goods sold of $352,000. Operating expenses were $151,900, and interest expense was $7,400. The corporation's tax rate is 32%. The corporation declared preferred dividends of $11,342 in 2022, and its average common stockholders' equity during the year was $158,000.
(a)
Prepare an income statement for Pina Colada Corp..
Pina Colada Corp. Income Statement
$
In 2022, Pina Colada Corp. had net sales of $610,000 and

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