Kingbridge Range Company Has Sales in 2014 of $2,650,000

question 112

Essay

Kingbridge Range Company has sales in 2014 of $2,650,000. During the year, the company had $50,000 in sales returns and $30,000 in sales discounts. The cost of these sales was $1,800,000. Operating expenses excluding salaries and wages were $150,000 and salaries and wages incurred during the year were $300,000. Kingbridge uses a perpetual inventory system.
Instructions
Prepare a multiple-step income statement for Kingbridge Range Company for the year ended December 31, 2014.

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Definitions:

Gender-Role Stereotypes

Social and cultural expectations about the behaviors and attitudes appropriate for each gender.

Social Learning

The process of acquiring behaviors, skills, attitudes, or beliefs through observation of and interaction with others.

Sexual Orientation

An enduring pattern of emotional, romantic, or sexual attractions to men, women, or both sexes, as well as the absence of these attractions.

Gender Identities

Gender identities are the personal sense of one's own gender, which may or may not align with the sex assigned at birth, including male, female, a blend of both, or neither.