Answer:
$33,000
Explanation:
Preparation of a multiple-step income statement.
Beasley, Inc. Multiple-step Income Statement For the Year Ended December 31, 2021
Sales Revenue$310,000
Less Cost of goods sold ($125,000)
Gross Profit $185,000
($310,000-$125,000)
Salaries expense $36,000
Advertising expense $23,000
Utilities expense $42,000
Less Total Operating Expenses ($101,000)
($36,000+$23,000+$42,000)
Operating Income $84,000
($185,000-$101,000)
Less Interest Expense ($12,000)
Income Before Income Taxes $72,000
($84,000-$12,000)
Less Income Tax Expense ($39,000)
Net Income $33,000
($72,000-$39,000)
Therefore multiple-step income statement is $33,000
