Create a multiple-step income statement for blue door corp

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Reference no: EM132824844

The following selected accounts from the Blue Door Corporation's general ledger are presented below for the year ended December 31, 2022:

Advertising expense$ 55,000
Interest revenue$ 30,000
Common stock 250,000
Inventory 67,000
Cost of goods sold 1 ,085,000
Rent revenue 24,000
Depreciation expense 125,000
Retained earnings 535,000
Dividends 150,000
Salaries and wages expense 675,000
Freight-out 25,000
Sales discounts 8,500
Income tax expense 70,000
Sales returns and allowances 41,000
Insurance expense 15,000
Sales revenue 2,400,000
Interest expense 70,000

Problem 1: Create a multiple-step income statement.

Reference no: EM132824844

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