ACC 421
Week 2 BE 4-2
Brisky Corporation
Brisky Corporation had net sales
of $2,400,000 and interest revenue of $31,000 during 2014. Expenses
for 2014 were cost of goods sold $1,450,000; administrative expenses $212,000;
selling expenses $280,000; and interest expense $45,000. Brisky’s tax rate
is 30%. The corporation had 100,000 shares of common stock
authorized and 70,000 shares issued and outstanding during 2014.
Prepare a single-step income statement for the year ended December 31, 2014.
TUTORIAL PREVIEW
BRISKY CORPORATION
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Income Statement
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For the Year Ended December 31, 2014
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Revenues
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Net sales
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$2,400,000
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