Use This Information to Answer the Following Question If the Income Statement Were Prepared in a Multistep Form,operating

question 63

Multiple Choice

Use this information to answer the following question. $\begin{array}{c}\text { Alcorn \& Zeto Company}\\\text { Income Statement}\\\text { For the Year Ended December 31, 2010}\\\begin{array}{lrr}\text { Revenues } & \\\text { Net sales } & \$ 100,000 \\\text { Dividend income } &\underline{8,750} \\\text { revenues } &&\$108,750\\\text { Costs and expenses } & \\\text { Costs of goods sold } & \$ 30,000 \\\text { Selling expenses } & 10,000 \\\text { General and administrative expenses } & 13,750 \\\text { Interest expense } & \underline{ 6,250} \\\text { Total costs and expenses } && \underline{60,000} \\\text { before income taxes } && \$ 48,750 \\\text { Income taxes } && \underline{ 19,500} \\\text { Net income } && \underline{ \$ 29,250}\end{array}\end{array}$

If the income statement were prepared in a multistep form,operating expenses would be

• A) $46,000.
• B) $16,000.
• C) $22,250.
• D) $40,000.

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Definitions:

Portfolio

A collection of work samples, projects, or other evidence assembled by an individual to demonstrate their skills, experiences, or achievements.

Application Messages

Communications specifically designed to request something, such as a job application or software application request, containing detailed information about the applicant or required service.

Discussion of Salary

Conversations or negotiations relating to the compensation or wages to be received by an employee for their work.

Application Message

A communication or document sent when applying for a position or entry, such as a job application email.