In its income statement for the year ended December 31, 2022, Pharoah Company reported the following condensed data. Operating expenses $734,000 Interest revenue $ 47,000 Cost of goods sold 1,270,000 Loss on disposal of plant assets 30,000 Interest expense 84,000 Net sales 2,213,000 Income tax expense 59,000 Other comprehensive income (net of $1,200 tax) 9,700

In its income statement for the year ended December 31, 2022, Pharoah Company reported the following condensed data. Operating expenses $734,000 Interest revenue $ 47,000 Cost of goods sold 1,270,000 Loss on disposal of plant assets 30,000 Interest expense 84,000 Net sales 2,213,000 Income tax expense 59,000 Other comprehensive income (net of $1,200 tax) 9,700

Accounting Information Systems

11th Edition

ISBN:9781337552127

Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Chapter16: The General Ledger And Business Reporting (gl/br) Process

Section: Chapter Questions

Problem 5P

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