Listed below are several amounts from the accounting records of Bike Links for the year ended December 31, 2013. Prepare a multiple-step income statement in good form.
Definitions:
Investing Activities
Financial actions associated with the purchase and sale of long-term assets and other investments not considered cash equivalents.
Common Stock
A type of equity security that represents ownership in a corporation, with holders typically having voting rights and receiving dividends.
Financing Activities
Financing activities are transactions and business events that involve raising capital and repaying investors, affecting a company's equity and liabilities.
Long-term Debt
Borrowings and financial obligations that are due more than one year in the future, often used for financing or acquiring assets.
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