The account balances and single-step income statement for

Spark's Electrical Supply Spark's Electrical Supply,

Inc., for the year ended

August

31, 2018,

are presented below:

.

Requirement 1. Prepare

Spark's Electrical SupplySpark's Electrical Supply,

Inc.'s multistep income statement.

	Spark's Electrical Supply, Inc.
	Income Statement
	For the Year Ended August 31, 2018

Net income (loss)

   

Transcribed Image Text:

Revenues: Sales revenue Cost of goods sold Selling expenses General expenses Interest expense Expenses: Spark's Electrical Supply, Inc. Income Statement For the Year Ended August 31, 2018 Total expenses Net income (loss) 60 123,700 37,000 24,500 750 $ 271,600 185,950 85,650 69 Revenues: Sales revenue Cost of goods sold Selling expenses General expenses Interest expense Expenses: Spark's Electrical Supply, Inc. Income Statement For the Year Ended August 31, 2018 Total expenses Net income (loss) 60 123,700 37,000 24,500 750 $ 271,600 185,950 85,650 69

Answer rating: 100% (QA)

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