Reference no: EM133002535
Question - The Data is extracted from the books of Dalda Corporation for the year ending December 31, 2010,
Cost of goods sold $250,000
Net sales 450,000
Other expenses and losses 9,600
Other revenues and gains 5,600
Selling and administrative expenses 1,00,000
Income from operations 60,000
Loss from disposal of a business division 400,000
Analysis reveals that:
1. All items are before the applicable income tax rate of 40%.
2. The division was sold on July 1.
Required -
a) Prepare single step income statement for the year.
b) Convert the dollar amount of given Income statement into percentage and comment.
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: The Data is extracted from the books of Dalda Corporation for the year ending December 31, 2010, Prepare single step income statement for the year
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