Trying to do an income statement and not sure if i did it correctly. The question is prepare a multiple step income statement combined with a reconciliation of retained earning for the year
Cost of products sold 410,000
Dividends 3,000
Extraordinary gain (net of tax) 1,000
Income taxes 9,300
Interest expense 8,700
Other income 1,600
Retained earnings, 1/1 270,000
Sales 480,000
Selling and administrative expense 42,000
