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Alex787 [66]
3 years ago
5

Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 411,000 Income tax

expense $ 53,000 Interest expense 23,000 Cost of goods sold 133,000 Salaries expense 43,000 Advertising expense 33,000 Utilities expense 53,000 Required: Prepare a multiple-step income statement.

Business
1 answer:
cestrela7 [59]3 years ago
8 0

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

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1 year ago
Consider the following facts for health haven?
pochemuha

Answer:

attached below is the missing part of the question

$17000

Explanation:

1) calculate the cash dividends

  = beginning earnings + net income for the period - ending retained earnings

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first we will calculate the dep on sale of plant products

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7 0
3 years ago
Cute Camel Woodcraft Company just reported earnings after tax (also called net income) of $9,750,000 and a current stock price o
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Answer:

Explanation:

a)

earning per share =  Net income / outstanding shares  

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= $39.50 \ $1.77  = 22.32

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3 years ago
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A detailed description of the money your business makes and expends every month for the first year is called a(n) A cash-flow st
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Hello there,

A detailed description of the money your business makes and expends every month for the first year is called a(n)

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