Income Statement

Prepare an income statement using the following data for New Orleans Adventures for the year ended December 31: $24,500,000 10,900,000 6,300,000 500,000 100,000 Sales Cost of goods sold Operating expenses Income tax expense Loss on discontinued operations New Orleans Adventures Income Statement For the Year Ended December 31 24,500,000 10,900,000 13,600,000 Sales Cost of goods sold Gross profit Y Operating expenses Income from continuing operations x Loss on discontinued operations x Income before extraordinary item X Income tax expense x Net income . 6,300,000v 7,300,000 100,000X 7,200,000 X 500,000X 6,700,000