The following information is available for Berlin Corp. for the year ended December 31, 2022:

Prepare a multiple-step income statement for Berlin Corp. The company has a tax rate of 20%.

Compute and analyze profitability ratios.

Transcribed Image Text:

Other revenues Sales revenue $592,000 and gains Other expenses and losses 12,700 13,300 Operating 186,000 expenses Cost of goods sold 156,000 Sales returns 40,000 and allowances %24