Use the following Year 3 data: Other Selling and Administrative Expenses$1,052,100? Other Expenses 249,400? Sales Revenue 4,887,100? Advertising and Promotion Expenses 553,400? Salaries and Wages Expense 2,528,000? Income Tax Expense 167,400? Interest Expense 114,800? Required:Prepare the annual income statement for Kvass, Inc.KVASS, INC.Income StatementFor the Year Ended December 31, Year 3??????????????????????????????
What will be an ideal response?
| KVASS, INC. |
| Income Statement |
| For the Year Ended December 31, Year 3 |
| Revenues: | ? |
| Sales Revenue | $4,887,100? |
| ? | |
| Total Revenues | 4,887,100? |
| Expenses: | ? |
| Salaries and Wages Expense | 2,528,000? |
| Advertising and Promotion Expenses | 553,400? |
| Other Selling and Administrative Expenses | 1,052,100? |
| Interest Expense | 114,800? |
| Income Tax Expense | 167,400? |
| Other Expenses | 249,400? |
| ? | ? |
| ? | ? |
| Total Expenses | 4,665,100? |
| Net Income | $222,000? |
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