Question

The following is alisting of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31. $10,200 Advertising Expense 87,900 Cost of Goods Sold Delivery Expense 4,300 Insurance Expense 1,400 5.960 ncome Tax Expense Rent Expense 10,700 1,900 Interest Expense Sales Revenue 160,400 Sales Discounts 10,800 Returns and Allowances 18,300 Sales Required a. Prepare a multistep income statement. Mulberry Street Sportswear Income Statement For the year ended December 31, Net Sales Cost of Goods So Gross Pro Selling, General, a nd Administrative Expenses Income from operations er Revenue (Expenses), nel Income before Income Tax Expense Income Tax Expense Net Income

 

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