Business, 26.03.2020 16:31 chrisraptorofficial

Saturn Motorcycle's selected accounts as of December 31, 2018, follow:

Selling Expenses $10,400
Interest Revenue 1,900
Net Sales Revenue 130,000
Cost of Goods Sold 81,000
Administrative Expenses 8,500

Required:
Prepare the multi-step income statement for the year ended December 31, 2018.

Answers: 2

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Answers

Answer from: richy5667

Solution and Explanation:

the following is the income statement for the year ending

Saturn motorcycle's

Income statement

year ending december 31, 2018

Particulars Amount

net sales revenue 130000

Less: cost of goods sold 81000

gross profit 49000

Less: operating expense:

Selling expenses 10400

adminstartive expenses 8500

Total operating expenses 18900

operating profit 30100

Non operating revenues ( expenses)

add: interest revenue 1900

total other revenue 1900

net income 32000

Note: every amount is in dollars

Answer from: Quest

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Answer from: Quest

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Saturn Motorcycle's selected accounts as of December 31, 2018, follow:

Selling Expenses...

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