The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation: Service Revenue, $275,000; Salaries Expense, $110,000; Supplies Expense, $20,000; Rent Expense, $26,000; Depreciation Expense, $44,000; and Delivery Expense, $18,000. Prepare an income statement for the year ended December 31, 2021.

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A: SUAREZ INC                               Multi step…

Q: The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation:…

A:

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A: Note: Since there are multiple subparts, we will answer only the first three subparts. Income…

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A: Single-step income statement format in which a single subtotal of all revenue items are listed in…

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A:

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A: Income tax = Net income before taxes x Tax rate = $640 x 25% = $160

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