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Perform the income statement for the calendar year

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Question - Ford Corp. is going through Chapter 11 bankruptcy reorganization. Perform the income statement for the calendar year 2021 using the following information. The effective tax rate is 20%.

Advertising expense $34,000

Cost of goods sold 241,000

Depreciation expense 23,000

Interest expense 4,500

Interest revenue 19,000

Loss on closing the branch 97,000

Professional fees 62,000

Rent expense 19,000

Revenues 412,000

Salary expense 75,000

Reference no: EM132976896

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