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Single-Step Income Statement The following income statement items, arranged in alphabetical order, are taken from the...

Single-Step Income Statement

The following income statement items, arranged in alphabetical order, are taken from the records of Rockmore Inc. for the current year:

Advertising expense $1,500 Interest expense $1,400
Commissions expense 2,415 Interest revenue 1,340
Cost of goods sold 29,200 Rent revenue 6,700
Depreciation expense—office Salaries and wages expense—office 12,560
building 2,900 Sales revenue 51,200
Income tax expense 1,540 Supplies expense—office 890
Insurance expense—salesperson's
auto 2,250

Prepare a single-step income statement for the current year.

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jeff jeffy answered 2 years ago
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How does the single-step form of the income statement differ from the multiple-step form?
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