X. Bonds CompanyThe following is a single-step income statement for the X. BondsCompany:
Refer to X. Bonds Company. If the income statement were prepared ina multiple-step format, income from operations would be:
a.$126,000.
b.$146,000.
c.$185,000.
d.$171,000.
Net Sales $300,000 - Cost of Goods Sold $ 60,000 Gross profit $240000 - Selling Expenses $25,000 - General and Administrative Expenses $30,000 Operating profit $185000
So correct option is C.
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