Question: Prepare a formal income statement from the following partial worksheet for Cadbury Co. Cadbury Co. Income Statement For the Year Ended December 31, 2018 Revenue:
Prepare a formal income statement from the following partial worksheet for Cadbury Co. Cadbury Co. Income Statement For the Year Ended December 31, 2018 Revenue: Gross Sales Less: Sales Returns and Allow. Sales Discounts Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense Worksheet Cadbury Co. Partial Worksheet For the Year Ended December 31, 2018 2750 123 Account Titles 68 191 Sales Income Statement Dr. Cr. 2,750 2941 870 2071 Sales Returns and Allow. Sales Discounts Cost of Goods Sold Salaries Expense 123 68 870 150 Insurance Expense 240 Advertising Expense 110 Rental Income 220 Rent Expense 195 Depreciation Exp., Store Equip. 180 Salaries Payable 150 Insurance Expense 240 Advertising Expense 110 Rent Expense 195 Depreciation Exp., Store Equip. 180 875 Total Operating Expenses Net Income from Operations 1196 Other Income: Rental Income Net Income (Loss) 220 1416 Screenshot Net Income 1,936 2,970 1,034 2,970 2,970
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