Question: Summary operating data for Loma Company during the current year ended April 30, 2016, are as follows: cost of goods sold, $418,700; administrative expenses,

Summary operating data for Loma Company during the current year ended April

Summary operating data for Loma Company during the current year ended April 30, 2016, are as follows: cost of goods sold, $418,700; administrative expenses, $53,000; interest expense, $32,000; rent revenue, $106,000; sales, $689,000; and selling expenses, $79,500. Prepare a single-step income statement. Enter account decreases and cash outflows as negative amounts. Loma Company Income Statement For the Year Ended April 30, 20Y6 Revenues: Total revenues Expenses: Q Total expenses Q

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