Sing Songs Ltd. started operations on January 1, 2010. During its first year of operations, the company had a choice of accounting policies:
Assume that the company selected Accounting Option 2. Using the following information about activities for 2010-2012, derive the net income for each year:
Definitions:
Electric Cars
Vehicles powered entirely or partially by electricity, offering an alternative to traditional gasoline or diesel engines.
Space Heat
The provision of warmth to indoor spaces, primarily for comfort.
Propane
A flammable hydrocarbon gas used as fuel in heating appliances, cooking equipment, and as a fuel for engines.
Kerosene
A flammable hydrocarbon liquid commonly used as a fuel in heating, lamps, and jet engines.
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