In its income statement for the year ended december 31, 2022, concord corporation reported the following condensed data. operating expenses $ 712,000 interest revenue $ 26,000 cost of goods sold 1,249,000 loss on disposal of plant assets 10,000 interest expense 64,000 net sales 2,193,000 income tax expense 37,000 other comprehensive income (net of $1,200 tax) 7,600 prepare a multiple-step income statement.

2022         Concord Corporation

$ 2,193,000Sales

$ 2,193,000Net Sales Revenues

-$ 1,249,000Cost of goods sold

$ 944,000Gross PROFIT

-$ 712,000Operating EXPENSES

-$ 712,000Operating EXPENSES

$ 232,000Operating INCOME

-$ 10,000Loss on disposal of plant assets

-$ 64,000Interest Expenses

$ 26,000Interest Revenue

-$ 48,000NonOperating EXPENSES

$ 184,000NET INCOME AFTER TAXES

$ 184,000Net INCOME

$ 7,600    Other comprehensive income

$ 191,600Net INCOME

Explanation:

In the multistep income it's possible to segregate the operative expenses and  revenues of the non operative, it also shows the gross profit, which is  

the Net Sales Revenues less the Costo of Goods Sold.  

First it's shown the Gross Profit, then substracted the operating expenses  

to arrive at operating income.

Finally with the non operating movements we have the net Income After Taxes   and with the taxes expenses we have the Net Income of the company.

answer; ///blank(1); dealers; blank(2); brokers;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.