Given the following information, prepare a single-step Income Statement for Brandon's Corporation for the year ending December 31, 2012.
Definitions:
Actor-observer Difference
A cognitive bias where people tend to attribute their own actions to external situations while attributing others' actions to their personalities or dispositions.
Bias
A tendency to lean in a certain direction, often unfairly, in thought or decision, usually leading to a prejudiced outcome.
Halo Effect
A cognitive bias where an impression created in one area influences opinion in another area.
Similar-to-me Effect
The tendency to prefer individuals who are perceived to be similar to oneself in terms of attitudes, beliefs, and backgrounds.
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