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
