Use the financial data for Jin Merchanding Inc., in Exercise 17-13 to prepare it
ID: 2369421 • Letter: U
Question
Use the financial data for Jin Merchanding Inc., in Exercise 17-13 to prepare its income statement for the calendar year 2011. (Ignore the earnings per share section.)
17-13 Debit Credit
Net Sales $3,000,000
Gain on state's condemnation 330,000
Company propert (net of tax)
Salarie expense $640,000
Income taxes 117,000
Depreciation expense 432,500
Gain on sale of retail
business segment (net of tax) 875,00
Loss from operating retail
business segment (net of tax) 544,000
Cost of goods sold 1,580,000
Explanation / Answer
please rate me first then I will post the answer becouse you rate takes time