Reference no: EM132588620

Question 1: Using the information provided from ABC Company at the end of December 31, 2019, prepare SINGLE-STEP Income Statement, IN GOOD FORM for the Company:

Sales Discount $750                       Office equipment depreciation $500

Office salaries expense $2,000          Cost of goods sold $9,000

Rent Expense Office $1,500              Sales Revenue $25,000

Advertising expense $ 500                Insurance expense $1,000

Sales returns $ 250                         Sales staff Salaries $2,500

Interest Income $ 800

• Interest income includes $200 that is unearned.