standing for 2010 total 40,550 ( omittea (b) Prepare an income statement for the year 2010 (c) Which one do you prefer? Discuss. ry Items) The following balances were taken from the books of 3E3 EA-S (Maltiplestep and Extraordin Parnevik Corp. on December 31, 2010 Interest revenue 86,000 Accumulated depreciation-building $ 86,000 Accumulated depreciation-building 28,000 155,000 194,000 170,000 00,000 97,000 32,000 60,000 100,000 Notes receivable 51,000 150,000 Bonds rtve and 150,000 Administrative and general expenses 280,000 Sellingexpenses Accounts payable Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Building Cost of goods sold Accumulated depreciation-equipment Accrued liabilities Interest expense Notes payable Loss from earthquake damage 7,000 100,000 200,000 140,000 621,000 40,000 (extraordinary item) Common stock Retained earnings 120,000 500,000 21,000 Assume the total effective tax rate on all items is 34%. PDF Water mark Remover DEMO: Purchase from www.PDFWatermarkRemover.com to remove the watermark