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Prepare a single step income statement

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Reference no: EM133024048

Question - The following items were derived from Gold company's: December 31 adjusted trial balance

Cost of goods sold: $101,000

Loss from strike (pretax) $9,000

Sales: 195,000

General and administrative expenses: 20,000 Selling expenses: 28,000

Interest revenue: 4,000

Additional data:

1. Seven thousand shares of common stock have been outstanding the entire year.

2. The income tax rate is 30% on all items of income.

Required - Prepare a single step income statement?

Reference no: EM133024048

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