Use the following Year 3 data: Other Selling and Administrative Expenses$1,050,300 Other Expenses 247,600 Sales Revenue 4,885,300 Advertising and Promotion Expenses 552,500 Salaries and Wages Expense 2,524,400 Income Tax Expense 166,500 Interest Expense 113,900 Required:Prepare the annual income statement for Kvass, Inc.
What will be an ideal response?
KVASS, INC. Income Statement For the Year Ended December 31, Year 3 | |
? | ? |
Revenues | ? |
Sales Revenue | $4,885,300 |
Expenses | ? |
Salaries and Wages Expense | 2,524,400 |
Advertising and Promotion Expenses | 552,500 |
Other Selling & Administrative Expenses | 1,050,300 |
Interest Expense | 113,900 |
Income Tax Expense | 166,500 |
Other Expenses | 247,600 |
Total Expenses | 4,655,200 |
Net Income | $ 230,100 |
? | ? |
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