E F G H K BE4.2 (LO 2) Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2022. Expenses for 2022 were cost of goods sold $1,450,000, administrative expenses $212,000, selling expenses $280,000, and interest expense $45,000. Brisky's tax rate is 30%. The company had 100,000 shares authorized and 70,000 shares issued and outstanding during 2022. Prepare an income statement for the year ended December 31, 2022.

E F G H K BE4.2 (LO 2) Brisky Corporation had net sales of $2,400,000 and interest revenue of $31,000 during 2022. Expenses for 2022 were cost of goods sold $1,450,000, administrative expenses $212,000, selling expenses $280,000, and interest expense $45,000. Brisky's tax rate is 30%. The company had 100,000 shares authorized and 70,000 shares issued and outstanding during 2022. Prepare an income statement for the year ended December 31, 2022.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter3: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 56P

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