The following data for the current year ended December 31, 2016, was extracted from the accounting records of Xender Co.: $$\begin{array}{l}
\begin{array} { l r }
\text { Cost of merchandise sold } & \$ 937,200 \
\text { Operating expenses } & 307,500 \
\text { Sales } & 1,230,250
\end{array}\
\text { Prepare a multiple-step income statement for the year ended December 31, } 2016 .
\end{array}$$

Question

The following data for the current year ended December 31, 2016, was extracted from the accounting records of Xender Co.: $$\begin{array}{l}
\begin{array} { l r } 
\text { Cost of merchandise sold } & \$ 937,200 \
\text { Operating expenses } & 307,500 \
\text { Sales } & 1,230,250
\end{array}\
\text { Prepare a multiple-step income statement for the year ended December 31, } 2016 .
\end{array}$$

Quizplus · Accepted Answer

The Answer of The following data for the current year ended December 31, 2016, was extracted from the accounting records of Xender Co.: $$\begin{array}{l}
\begin{array} { l r } 
\text { Cost of merchandise sold } & \$ 937,200 \
\text { Operating expenses } & 307,500 \
\text { Sales } & 1,230,250
\end{array}\
\text { Prepare a multiple-step income statement for the year ended December 31, } 2016 .
\end{array}$$

The Following Data for the Current Year Ended December 31