Accounts payable Accounts reccivable Accrued liabilities 800

Accounts payable Accounts reccivable... Accrued liabilities 8,000 5,600 3,200 7,600 40,000 17,400 800 1,800 100,000 37,000 18,400 Net income, $23,000 Cost of goods sold Equipment,net Inventory Long-term notes payable Net sales revenue Total operating expenses V. Dawson, capital Prepare Dawson Communications\' multi-step income statement for the year ended December 31, 2017

Solution

Dawson Communication

Income Statement

For the Year Ended December 31,2017

Sales	$100000
Cost of goods sold	($40000)
Gross Profit	$60000
Total Operating expenses	($37000)
Net Income	$23000