Question: Use the information from the data provided below to prepare a full Income Statement in proper format for the year ended December 31, 2023. (8
Use the information from the data provided below to prepare a full Income Statement in proper format for the year ended December 31, 2023. (8 pts.) Research and development expenses $5,000 Insurance expense $7,000 Net sales $186,000 General, selling, and administrative expenses $29,000 Cost of goods sold $87,000 Income tax expense $11,000 Rent expense $12,000 Interest income $3,000 Interest expense $4,000
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