Question: Prepare an income statement using the following data for New Orleans Adventures for the year ended December 31: Sales $24,500,000 Cost of goods sold 10,900,000
Prepare an income statement using the following data for New Orleans Adventures for the year ended December 31:
| Sales | $24,500,000 | |
| Cost of goods sold | 10,900,000 | |
| Operating expenses | 6,300,000 | |
| Income tax expense | 500,000 | |
| Loss on discontinued operations | 100,000 |
| New Orleans Adventures | |
| Income Statement | |
| For the Year Ended December 31 | |
| $ | |
| $ | |
| $ | |
| $ | |
| $ | |
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