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Q1) Income Statement Preparation:

Following selected information is taken from records of Beckstrom Corporation.

Accounts payable


Accounts receivable


Advertising expense




Supplies expense


Rent expense


Utilities expense


Income taxes (30% of income before taxes)


Miscellaneous expense


Owners' equity


Salaries expense


Fees (revenues)


1. Create income statement for year ended December 31, 2006. (Suppose that 7,500 shares of stock are outstanding.)

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  • Reference No.:- M921693

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