10. Big Toys Motorcycle\'s selected accounts as of December 31, 2018, follow E(C
ID: 2402199 • Letter: 1
Question
10. Big Toys Motorcycle's selected accounts as of December 31, 2018, follow E(Cick the icon to view the accounts and balances) Prepare the mults-step income statement for the year ended December 31, 2018 Big Toys Motorcycle Income Statement Year Ended December 31, 2018 Net Sales Revenue Data Table Seling Expenses Interest Revenue Net Sales Revenue Cost of Goods Sold Administrative Expenses S 10,400 ,900 30 000 81,000 8.500 Print Done Choose trom any list or enter any number in the input telds and then continue to the next questionExplanation / Answer
Solution:
Big toys Motorcycle Income statement Year ended December 31, 2018 Particulars Amount Net Sales revenue $130,000.00 Cost of goods sold $81,000.00 Gross Profit $49,000.00 Operating Expenses: Selling expenses $10,400.00 Administrative Expenses $8,500.00 Total operating expenses $18,900.00 Operating profit $30,100.00 Other revenue: Interest revenue $1,900.00 Total other revenue $1,900.00 Net Income $32,000.00Related Questions
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