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What would ortiz report as total revenues in a single-step

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Reference no: EM132838180

Ortiz Co. had the following account balances:

Sales $ 120,000

Cost of goods sold 60,000

Salary expense 10,000

Depreciation expense 20,000

Dividend revenue 4,000

Utilities expense 8,000

Rental revenue 20,000

Interest expense 12,000

Sales returns 11,000

Advertising expense 13,000

Problem 1: What would Ortiz report as total revenues in a single-step income statement?

a. $144,000

b. $133,000

c. $ 10,000

d. $120,000

Reference no: EM132838180

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