Rogers Motorsports selected accounts as of December 31, 2018, follow:
$$\begin{array} { | l | c | }
\hline \text { Administrative Expenses } & \$ 130,000 \
\hline \text { Cost of Goods Sold } & 200,000 \
\hline \text { Interest Revenue } & 2,500 \
\hline \text { Net Sales Revenue } & 450,000 \
\hline \text { Selling Expenses } & 80,000 \
\hline
\end{array}$$ Prepare the multi-step income statement for the year ended December 31, 2018.

Question

Rogers Motorsports selected accounts as of December 31, 2018, follow:
 $$\begin{array} { | l | c | } 
\hline \text { Administrative Expenses } & \$ 130,000 \
\hline \text { Cost of Goods Sold } & 200,000 \
\hline \text { Interest Revenue } & 2,500 \
\hline \text { Net Sales Revenue } & 450,000 \
\hline \text { Selling Expenses } & 80,000 \
\hline
\end{array}$$ Prepare the multi-step income statement for the year ended December 31, 2018.

Quizplus · Accepted Answer

The Answer of Rogers Motorsports selected accounts as of December 31, 2018, follow:
 $$\begin{array} { | l | c | } 
\hline \text { Administrative Expenses } & \$ 130,000 \
\hline \text { Cost of Goods Sold } & 200,000 \
\hline \text { Interest Revenue } & 2,500 \
\hline \text { Net Sales Revenue } & 450,000 \
\hline \text { Selling Expenses } & 80,000 \
\hline
\end{array}$$ Prepare the multi-step income statement for the year ended December 31, 2018.

Rogers Motorsports Selected Accounts as of December 31, 2018, Follow