Income statement information for ABC Corporation for the year is as follows:
General and Administrative expenses:
Salaries and Wages expense $
Depreciation expense Building
Office supplies expense
Inventory ending
Loss from flood damage
Gain on disposal of equipment
Purchases
Sales Revenue
Interest expense
Freight in
Purchase discounts
Dividend revenue
Inventory beginning
Sales returns and allowances
Services expenses:
Salaries and wages
Depreciation expense trucks
Truck supplies expense
The effective tax rate on all income is
ABC Company follows ASPE.
Required:
Prepare a multiple step income statement for showing expenses by function
