Beasley, Inc. reports the following amounts in its December 31, 2012, income statement. $$\begin{array} { l r l r }
\text { Sales revenue } & \$ 300,000 & \text { Income tax expense } & \$ 38,000 \
\text { Interest expense } & 12,000 & \text { Cost of goods sold } & 125,000 \
\text { Salaries expense } & 35,000 & \text { Advertising expense } & 24,000 \
\text { Utilities expense } & 41,000 & &
\end{array}$$ Prepare a multiple-step income statement.

Question

Beasley, Inc. reports the following amounts in its December 31, 2012, income statement. $$\begin{array} { l r l r } 
\text { Sales revenue } & \$ 300,000 & \text { Income tax expense } & \$ 38,000 \
\text { Interest expense } & 12,000 & \text { Cost of goods sold } & 125,000 \
\text { Salaries expense } & 35,000 & \text { Advertising expense } & 24,000 \
\text { Utilities expense } & 41,000 & &
\end{array}$$ Prepare a multiple-step income statement.

Quizplus · Accepted Answer

The Answer of Beasley, Inc. reports the following amounts in its December 31, 2012, income statement. $$\begin{array} { l r l r } 
\text { Sales revenue } & \$ 300,000 & \text { Income tax expense } & \$ 38,000 \
\text { Interest expense } & 12,000 & \text { Cost of goods sold } & 125,000 \
\text { Salaries expense } & 35,000 & \text { Advertising expense } & 24,000 \
\text { Utilities expense } & 41,000 & &
\end{array}$$ Prepare a multiple-step income statement.

Beasley, Inc Prepare a Multiple-Step Income Statement