January 26, 2015

Homework Help: Accouting

Posted by Sharon on Saturday, April 24, 2010 at 10:14am.

I need to prepare a multi-step income statement for Coyote, Inc from a single-step statement. Thuis is the following information that I was given.

Net sales $1,833,000
Interest Income 13,000

Costs and expenses
Cost of goods sold 1,072,000
Selling expenses 279,000
General and admin. expenses 175,000
Depreciation 14,000
Interest expense 16,000
Income tax expense 116,000
Net income $174,000

My instructor gave the class a template to use. The template has three columns with the headings of 200x, 201x, 202x. I don't know where to get the numbers for the other colums. Can you explain where to find this numbers and what information is needed? Thank you.

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