Prepare a multiple-step income statement for jackrabbit inc

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Reference no: EM13899530

Prepare a multiple-step income statement for Jackrabbit Inc. from the following single-step statement.

Net sales	$1,840,000
Gain on sale of equipment	15,000
Interest income	13,000
Costs and expenses:	1,868,000
Cost of goods sold	1,072,000
Selling expenses	270,000
General and admin. expenses	155,000
Depreciation	24,000
Equity losses	9,000
Interest expense	16,000
Income tax expense	96,000
Net income	$ 226,000

Reference no: EM13899530

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