Question: Please, prepare 1 step income statement from the following information and upload the excel file with done task below. Sales 350 000 Losses 1000 Utilities

Please, prepare 1 step income statement from the following information and upload the excel file with done task below.

Sales 350 000

Losses 1000

Utilities 2000

Depreciation 8000

Bad Debt Provision ?

Interest revenue 1000

Interest expense 1000

Salaries 110 000

Cost of Goods sold 125 000

Rent 7000

Gains ?

Additional information:

Company sells one of its delivery vans for $7,000. Over the years, the cost of the van was being depreciated on the company's accounting records ($5,000).

Company has issued invoices for a total of 100 0000 euro to its customers in a given month, and has a historical experience of 4% bad debts on its billings, it would be justified in creating a bad debt provision

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