Beasley, Inc., reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 350,000 Income tax expense $ 36,000 Interest expense 13,000 Cost of goods sold 120,000 Salaries expense 35,000 Advertising expense 25,000 Utilities expense 45,000 Prepare a multiple-step income statement.

Instructions are listed below.

Explanation:

Giving the following information:

Sales revenue $350,000

Income tax expense $36,000

Interest expense $13,000

Cost of goods sold $120,000

Salaries expense $35,000

Advertising expense $25,000

Utilities expense $45,000

The multiple-step income statement uses the following structure:

Sales

Less:

Cost of goods sold

= Gross margin

Less:

Operating expenses:

Selling expenses

Administrative expenses

= income from operations

Less:

Interest expense

Tax expense

= Net income

For this case:

Sales= 350,000

COGS= (120,000)

Gross profit= 230,000

Operating expenses:

Salaries expense= (35,000)

Advertising expense= (25,000)

Utilities expense (45,000)

Income from operations= 125,000

Income tax expense= (36,000)

Interest expense= (13,000)

Net income= 76,000

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi