The following information is available for Mildred Corporation f

The following information is available for Mildred Corporation for the year ended December 31, 2012: Cost of goods sold $205,000; Sales revenue $450,000; Other revenues and gains $50,000; and Operating expenses $75,000. Assuming a corporate tax rate of 30%, prepare an income statement for the company.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

Members

  • Access to 2 Million+ Textbook solutions
  • Ask any question from 24/7 available
    Tutors
$9.99
VIEW SOLUTION

OR

Non-Members

Get help from Accounting Tutors
Ask questions directly from Qualified Online Accounting Tutors .
Best for online homework assistance.