Question: Using these numbers what should the income statement look like? Account Title Balance Accounts Payable 115,000 Accounts Receivable 95,000 Accumulated Depreciation 55,000 Bank Loan 40,000
Using these numbers what should the income statement look like?

Account Title Balance Accounts Payable 115,000 Accounts Receivable 95,000 Accumulated Depreciation 55,000 Bank Loan 40,000 Bonds Payable 150,000 Cash 70,127 Common Shares 127,500 Cost of Goods Sold 310,500 Depreciation Expense 25,000 Discount on Bonds 6.871 Gain on Fair Value Adjustment 16,000 Insurance Expense 2,000 Interest Expense 12,683 Interest Payable 10,000 Interest Revenue 2.396 Inventory 60,000 Investment in Associate - Gregor Inc. 187,000 Long-Term Investment - Bond 40,345 Loss from Discontinued Operations [14,700] Maintenance Expense 9,000 Preferred Shares 24,000 Prepaid Insurance 16,000 Professional Fees Expense 6,600 Property, Plant & Equipment 240,000 Rent Expense 38,000 Revenue from Investment in Associate 94,500 Salaries Expense 75,000 Sales Discounts 8,000 Sales Returns and Allowances 10,000 Sales Revenue 690,000 Short-Term Investment - Daenerys Inc. 88,000 Telephone Expense 4,000 Travel Expense 16,700 Unearned Revenue 88,230 Notes
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