Book 2 - Chapter 23

23-1, continued

Single-step format:

Kutztown Company Income Statement For the Year Ended December 31, 2008
Revenues
Net sales		$ 287,550
Interest revenue		300
Total revenues		287,850
Expenses
Cost of goods sold	$112,870
Selling expenses	59,370
Administrative expenses	43,350
Interest expense	1,700
Total expenses		217,290
Net income

Learning Goal 23, continued

SOLUTIONS

Section III · Merchandising Operations

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