Grope Corporation began operations at the start of 2012.During hte yyear, it made cash and credit sales totaling $974,000 and collected $860,000 in…
Grope Corporation began operations at the start of 2012.During hte yyear, it made cash and credit sales totaling $974,000 and collected $860,000 in cash from its customers. It purchased inventory costing $508,000, paid $25,000 for dividentds and the cost of goods sold was $445,000. The coropration incurred the following expenses:$180,000$15,000$10,000$18,000income tax expense $65,000required:prepare an income statement showing revenues, expenses, pretax income, income tax expense, and […]
