Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31,...
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Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2024, year-end trial balance contained the following income statement items: Account Title Debits Credits Sales revenue $ 12,800,000 Interest revenue 53,000 Loss on sale of investments $ 103,000 Cost of goods sold 6,230,000 Selling expenses 623,000 General and administrative expenses 1,550,000 Interest expense 43,000 Research and development expense 1,230,000 Income tax expense 903,000
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