The following selected accounts from the Bramble Corp.s general ledger are presented below for the...
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Accounting
The following selected accounts from the Bramble Corp.s general ledger are presented below for the year ended December 31, 2016:
| Advertising expense | $ 68,200 | Interest revenue | $ 37,200 | |||
| Common stock | 310,000 | Inventory | 83,080 | |||
| Cost of goods sold | 1,345,400 | Rent revenue | 29,760 | |||
| Depreciation expense | 155,000 | Retained earnings | 663,400 | |||
| Dividends | 186,000 | Salaries and wages expense | 837,000 | |||
| Freight-out | 31,000 | Sales discounts | 10,540 | |||
| Income tax expense | 86,800 | Sales returns and allowances | 50,840 | |||
| Insurance expense | 18,600 | Sales revenue | 2,976,000 | |||
| Interest expense | 86,800 |
Prepare a multiple-step income statement.
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