Answered

Saturn ​Motorcycle's selected accounts as of December 31​, 2018​, ​follow:

Selling Expenses $10,400
Interest Revenue 1,900
Net Sales Revenue 130,000
Cost of Goods Sold 81,000
Administrative Expenses 8,500

Required:
Prepare the​ multi-step income statement for the year ended December 31​, 2018.

Answer :

letmeanswer

Solution and Explanation:

the following is the income statement for the year ending

                          Saturn motorcycle's

                               Income statement

                          year ending december 31, 2018

Particulars                                                                                    Amount

net sales revenue                                                                        130000

Less: cost of goods sold                                                                81000

gross profit                                                                                  49000

Less: operating expense:

Selling expenses                          10400

adminstartive expenses                 8500                                  

Total operating expenses                                                         18900

operating profit                                                                             30100

Non operating revenues ( expenses)

add: interest revenue                       1900

total other revenue                                                                      1900

net income                                                                                   32000

Note: every amount is in dollars

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