Prepare an Income Statement of ABC Company. Arrange the following accounts title in its proper position.     Gain on Sales of Investment 5,000.00 Adversiting Expense 8,000.00 Sales 100,000.00 less: Cost of Goods Sold 20,000.00 Other Interest Expense 2,000 Gross Profit ?

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter1: Accounting And The Financial Statements
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Problem 26BE: Brief Exercise 1-26 Income Statement An analysis of the transactions of Rutherford Company for the...
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ACTIVITY 3

Prepare an Income Statement of ABC Company. Arrange the following accounts title in its proper position.  

 

Gain on Sales of Investment 5,000.00

Adversiting Expense 8,000.00

Sales 100,000.00

less: Cost of Goods Sold 20,000.00

Other Interest Expense 2,000

Gross Profit ?

Net Profit ?

Operating Income ?

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