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In: Accounting

In its income statement for the year ended December 31, 2017, Ivanhoe Company reported the following...

In its income statement for the year ended December 31, 2017, Ivanhoe Company reported the following condensed data.
Salaries and wages expenses $558,000 Loss on disposal of plant assets $ 100,200
Cost of goods sold 1,184,400 Sales revenue 2,652,000
Interest expense 85,200 Income tax expense 30,000
Interest revenue 78,000 Sales discounts 192,000
Depreciation expense 372,000 Utilities expense 132,000

(a)

Prepare a multiple-step income statement. (List other revenues before other expenses.)
IVANHOE COMPANY
Income Statement

For the Month Ended December 31, 2017December 31, 2017For the Year Ended December 31, 2017

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

$

    Less    Add    

:

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

$

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

$

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

$

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

DividendsNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

$

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