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HOME INSERT PAGE LAYOUT FORMU PROTECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's saf A B Multiple-Step and Single-Step Statements Prepare a multi-step income statement and a single-step income statement for P. Bride Company Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rent revenue Delivery expense Sales commissions Depreciation of sales equipment Sales revenue $ 4,900 3,960 60,570 17,230 2,690 7,980 6,480 96,500 . 9,070 1,860 2 Income tax 3 Interest expense S Instructions (a) Prepare an income statement for the year 2017 using the multiple-step form. 16 17 18 19 20 21 P. BRIDE COMPANY Income Statement For the Year Ended December 31, 2017 (In thousands, except earnings per share) Income Statements READY

Explanation / Answer

Income Statement: Ssales revenue 96500 Less: Cost of Goods sold 60570 Gross margin 35930 Less: Selling and admin expense Selling expense: Delivery expense 2690 Sales commissiion 7980 Depreciation 6480 17150 Admin expense officer salaries 4900 Depreciation 3960 Rent revenue 17230 26090 Net operatin loss -7310 Interest expense -1860 Net loss before tax -9170 Less: Income tax -9070 Net loss after tax -18240

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