Solution-Prepare a single-step income statement for starr

Prepare a single-step income statement for starr

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Reference no: EM13538435

Starr Co. had sales revenue of $540,000 in 2012. Other items recorded during the year were:

Cost of goods sold $330,000

Salaries and wages expense 120,000

Income tax expense 25,000

Increase in value of company reputation 15,000

Other operating expenses 10,000

Unrealized gain on value of patents 20,000

Prepare a single-step income statement for Starr for 2012. Starr has 100,000 shares of stock outstanding.

Reference no: EM13538435

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Prepare a single-step income statement for starr

Reference no: EM13538435

Reference no: EM13538435

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