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Bogdan [553]
3 years ago
14

Beasley, Inc., reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 330,000 Income tax expe

nse $ 35,000 Interest expense 10,000 Cost of goods sold 129,000 Salaries expense 38,000 Advertising expense 21,000 Utilities expense 43,000 Prepare a multiple-step income statement.
Business
1 answer:
dalvyx [7]3 years ago
3 0

Answer:

The preparation of the multiple-step income statement is presented below:

Explanation:

The preparation of the multiple-step income statement is presented below:

                                        Beasley, Inc

                     Multiple-step income statement

                            December 31, 2021

Sales revenue                 $330,000

Less: Cost of goods sold  -$129,000

Gross profit                      $201,000

Less: Operating expenses

Salaries expense $38,000

Advertising expense $21,000

Utilities expense $43,000

Total operating expenses -$102,000

Operating income             $99,000

Non operating income or others

Less: Interest expense          $10,000

Total non operating income $10,000

Income before taxes         $89,000

Less: income tax expense -$35,000

Net income                           $54,000

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