FocusMore,Inc Required:
Prepare a Multiple Step Income Statement for 2011

question 97

Essay

FocusMore,Inc.,had the following alphabetical list of accounts taken from its adjusted trial balance at December 31,2011:
$$\begin{array} { l r } \text { Accounts Payable } & \$ 15,000 \\\text { Accounts Receivable } & 18,000 \\\text { Accumulated Depreciation-Building } & 26,200 \\\text { Advertising Expense } & 12,800 \\\text { Building } & 100,000 \\\text { Common Stock } & 60,000 \\\text { Cash } & 15,000 \\\text { Cost of Goods Sold } & 56,500 \\\text { Depreciation Expense } & 2,000 \\\text { Insurance Expense } & 3,800 \\\text { Insurance Payable } & 1,900 \\\text { Inventory } & 25,000 \\\text { Land } & 30,000 \\\text { Prepaid Insurance } & 4,600 \\\text { Interest Revenue } & 2,500 \\\text { Retained Earnings (Jan. 1, 2011) } & 58,000 \\\text { Salaries Expense } & 48,000 \\\text { Salaries Payable } & 4,600 \\\text { Sales } & 150,000 \\\text { Supplies Inventory } & 1,200 \\\text { Supplies Expense } & 2,000 \\\text { Unearned Rent Revenue } & 700\end{array}$$ Required:
Prepare a multiple step income statement for 2011.(Include gross profit,but ignore income taxes.)

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Definitions:

Infants

Young children, typically under one year of age, who are in the earliest stage of childhood development.

Sleep

A natural, periodic state of rest for the mind and body, characterized by altered consciousness and reduced interaction with surroundings.

Resistance To Going To Bed

The reluctance or refusal to go to bed at the desired time, commonly seen in children but can occur in adults.

Bedtime

The specific time set for going to sleep, which can influence one's health and daily functioning.