Question: Prepare a multi-step income statement for Johnson & Johnson for the year ended December 31, 20XX, using the following information: Sales revenue: $2,000,000 Cost of

Prepare a multi-step income statement for Johnson & Johnson for the year ended December 31, 20XX, using the following information:

  • Sales revenue: $2,000,000
  • Cost of goods sold: $800,000
  • Operating expenses: $500,000
  • Other income: $50,000
  • Income tax rate: 30%

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