“use the appropriate information from the data provided below, prepare the income statement (with the appropriate sub-totals) for the year ended…

“use the appropriate information from the data provided below, prepare the income statement (with the appropriate sub-totals) for the year ended December 31, 2004:Cost of goods sold $117,000General and Administration expenses $48,000Net cash provided by financing activities $69,000Dividends Paid $16,000Extraordinary loss from a flood, net oftax savings of $32,000 $74,000Income tax expense $11,000Other selling expenses $26,000Net Sales $278,000Advertising Expenses $39,000Accounts receivable $33,000”

Income StatementNet SalesCost of goods soldGross ProfitOpeating eXpenses:General and administrative expensesAdvertising ExpensesSelling ExpensesEarning before taxIncome tax expensesIncome…

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