Using the Following Data,prepare a Multistep Income Statement for Matthew's

question 77

Essay

Using the following data,prepare a multistep income statement for Matthew's Dry Goods for the month ended February 28,2010.
$\begin{array}{lr}\text { Cost of Goods Sold } & \$ 15,000 \\\text { General and Administrative Expenses } & 4,000 \\\text { Net Sales } & 25,000 \\\text { Selling Expenses } & 3,500 \\\text { Income Taxes } & 475\end{array}$

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