Question

Exercise 4-18 (Algo) Preparing a multiple-step income statement LO P4 Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment $ 6,320 Depreciation expense Office supplies expense 650 Sales discounts Insurance expense 1,200 Sales returns and allowances Sales 219,000 TV advertising expense Office salaries expense 31,000 Interest revenue Rent expense-Selling space 11,000 Cost of goods sold Sales salaries expense 23,200 Sales commission expense Prepare a multiple-step income statement. FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 Expenses Selling expenses Total selling expenses General and administrative expenses

          Exercise 4-18 (Algo) Preparing a multiple-step income statement LO P4
Fit-for-Life Foods reports the following income statement accounts for the year ended December 31.
Gain on sale of equipment
$ 6,320 Depreciation expense
Office supplies expense
650 Sales discounts
Insurance expense
1,200 Sales returns and allowances
Sales
219,000 TV advertising expense
Office salaries expense
31,000 Interest revenue
Rent expense-Selling space
11,000 Cost of goods sold
Sales salaries expense
23,200 Sales commission expense
Prepare a multiple-step income statement.
FIT-FOR-LIFE FOODS
Income Statement
For Year Ended December 31
Expenses
Selling expenses
Total selling expenses
General and administrative expenses

Exercise 4-18 (Algo) Preparing a multiple-step income statement LO P4
Fit-for-Life Foods reports the following income statement accounts for the year ended December 31.
Gain on sale of equipment
6,320 Depreciation expense
Office supplies expense
650 Sales discounts
Insurance expense
1,200 Sales returns and allowances
Sales
219,000 TV advertising expense
Office salaries expense
31,000 Interest revenue
Rent expense-Selling space
11,000 Cost of goods sold
Sales salaries expense
23,200 Sales commission expense
Prepare a multiple-step income statement.
FIT-FOR-LIFE FOODS
Income Statement
For Year Ended December 31
Expenses
Selling expenses
Total selling expenses
General and administrative expenses

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