Answer the MultiStep Income Statement. This is what i have completed thus far. I am unsure if it is right NAME:
II. INCOME STATEMENT
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I. DATA Administrative Expenses Cost of Goods Sold Loss on sale of Equipment General Expenses Income Tax Expense Sales Selling Expenses
$ 19,000 380,000 12,000 30,000 25.0% 710,000 55,000
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II.INCOME STATEMENT
BARKER'S BUSINESS Income Statement
For the Year Ended December 31, 2023
Sales Cost of Goods Sold Gross Profit
$710,000 (380,000) $330,000
Administrative Expenses General Expenses Selling Expenses Total Operating Expenses Net Income
S
19,000 30,000 55,000
104,000 S_226,000
Loss on sale of Equipment Net Income
12,000 $318,000
Income Tax Expense Net Income
79,500 S238,500