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$3,300 2,700 Cost of Goods Sold, Income Statement, and statement of Comprehensive Income Gaskin Company derives the following items from its adjusted tral balance as of December 31, 2019: Sales $148,000 Interest revenue Purchases returns 5,200 Purchases discounts taken Gain on sale of equipment (pretax) 3,800 Inventory, January 1, 2019 Freight-in 3,400 Purchases Selling expenses 15,600 Administrative expenses Unrealized increase in fair value of Loss from truck accident (pretax) 2,400 available for sale securities The following additional information is also available. 1. The December 31, 2019, ending inventory is $14,700. 2. During 2019, 4,200 shares of common stock were outstanding the entire year 3. The income tax rate is 30% on all items of income. 12,800 89,100 24,200 6,500 1. Prepare a separate schedule for Gaskin's cost of goods sold. GASKIN COMPANY Schedule 1: Cost of Goods Sold For Year Ended December 31, 2019 ID00 2. Prepare a 2019 single-step income statement. Disregard EPS disclosure. GASKIN COMPANY Income Statement (Single-Step) For Year Ended December 31, 2019 Revenues Total revenues Expenses Total expenses DO 3. Prepare a 2019 multiple-step income statement. Disregard EPS disclosure. GASKIN COMPANY Income Statement (Multi-Step) For Year Ended December 31, 2019 Operating expenses Total operating expenses DOD ID ID) Other items 4. Prepare a 2019 statement of comprehensive income. GASKIN COMPANY Statement of Comprehensive Income For Year Ended December 31, 2019 $ Other comprehensive income: od

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