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How to prepare single-step income statement

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Reference no: EM132584824

The following accounts are of Southeast Airline company.

Total amount of sales 500000

Cost of goods sold 160000

Wages expense 38,000

Depreciation expense 40,000

Marketing expense 12,300

Supplies for the office expense 2400

Gain on disposal of machine 6,000

Expense of interest 2000

Required:

Question a) Prepare single-step income statement. What is the amount of Net Income

Reference no: EM132584824

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