P24-3A Jackson corporation

P24-3A Jackson corporation

JACKSON CORPORATION

Comparative Income Statement

Year Ended December 31, 22013

Revenues                                             675,500

Costs and Expenses

Cost of goods sold                               429,000

Salaries expenses                                 125,000

Depreciation expense                          15,000

Advertising expense                            14,900

Utilities expense                                  18,000

Total costs and expenses                     601,900

Net income before income taxes                     73,600

Income taxes expense                          18,400

Net income after income taxes                        55,200

And so on.........................

TUTORIAL PREVIEW

JACKSON CORPORATION Statement of Cash Flows Year Ended December 31, 2013
Cash flows from operating activities
Net income		55,200
Adjustments:
Depreciation	15,000
Increase in accounts receivable	(3,650)

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