The following incorrect income statement was prepared by the accountant of the Axel Corporation: AXEL CORPORATION Income Statement For the Year Ended December 31, 2021

Revenues and gains:
Sales revenue $690,000
Interest revenue 42,000
Gain on sale of investments 89,000
Total revenues and gains 821,000
Expenses and losses:
Cost of goods sold $375,000
Selling expense 69,000
Administrative expense 89,000
Interest expense 26,000
Restructuring costs 65,000
Income tax expense 49,250
Total expenses and losses 673,250
Net Income $147,750
Earnings per share $1.48

Required:
Prepare a multiple-step income statement for 2021 applying generally accepted accounting principles.

Following is a list of various costs incurred in producing replacement automobile parts. with respect to the production and sale of these auto parts, classify each cost as either variable costs, fixed costs, or mixed costs. 1. oil used in manufacturing equipment 2. plastic 3. property taxes, $165,000 per year on factory building and equipment 4. salary of plant manager 5. cost of labor for hourly workers 6. packaging 7. factory cleaning costs, $6,000 per month 8. metal 9. rent on warehouse, $10,000 per month plus $25 per square foot of storage used 10. property insurance premiums, $3,600 per month plus $0.01 for each dollar of property over $1,200,000 11. straight-line depreciation on the production equipment 12. hourly wages of machine operators 13. electricity costs, $0.20 per kilowatt-hour 14. computer chip (purchased from a vendor) 15. pension cost, $1.00 per employee hour on the job

Vendors provide restaurants with what? o a. cooked items ob. raw materials oc. furniture od. menu recipes

The state in which the manufacturing company you work for is located regulates the presence of a particular substance in the environment to concentrations ≤ x. recently-released, reliable research endorsed by the responsible federal agency conclusively demonstrates that the substance poses no risks at concentrations up to 5x. your company has asked you to consider designing a new process with a waste discharge stream containing up to 2x of the substance. based on the stated conditions, describe this possible.