Prepare a 2017 income statement for Shanta Corporation based on the following information: $\begin{array} { l r }
\text { Cost of goods sold } & \$ 490,000 \
\text { Operating expenses } & 100,000 \
\text { Other expenses and losses } & 30,000 \
\text { Sales revenue } & 700,000 \
\text { Tax rate } & 30 \%
\end{array}$

Question

Prepare a 2017 income statement for Shanta Corporation based on the following information: $\begin{array} { l r } 
\text { Cost of goods sold } & \$ 490,000 \
\text { Operating expenses } & 100,000 \
\text { Other expenses and losses } & 30,000 \
\text { Sales revenue } & 700,000 \
\text { Tax rate } & 30 \%
\end{array}$

Quizplus · Accepted Answer

The Answer of Prepare a 2017 income statement for Shanta Corporation based on the following information: $\begin{array} { l r } 
\text { Cost of goods sold } & \$ 490,000 \
\text { Operating expenses } & 100,000 \
\text { Other expenses and losses } & 30,000 \
\text { Sales revenue } & 700,000 \
\text { Tax rate } & 30 \%
\end{array}$

Prepare a 2017 Income Statement for Shanta Corporation Based on the Following