In its income statement for the year ended December 31, 2012, Pele Company reported the following summary
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Question:
- Operating expenses $925,000
- Loss on sale of equipment $10,000
- Cost of sales 1,289,000 Net sales 2,312,000
- Interest expense 70,000
- Interest income 28,000
Instructions
(a) Prepare a multi-step income statement.
(b) Prepare a one-step income statement.
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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