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

question 27

Multiple Choice

Use this information to answer the following question. $\begin{array}{c} \text {Alcorn \& Zeto Company}\\ \text { Income Statement}\\\text {For the Year Ended December 31, 2010}\\\begin{array}{llr} \text { Revenues} &\\ \text {Net sales } &\$100,000\\ \text {Dividend income }&7,000\\ \text { Total revenues } &&\$107,000\\\text { Costs and expenses } & \\\text { Costs of goods sold } & \$ 30,000\\\text { Selling expenses } & 10,000 \\\text { General and administrative expenses } & 13,750 \\\text { Interest expense } & 6,250 \\ \text { Total costs and expenses } && 60,0000 \\\text { Income before income taxes } && \$ 47,000 \\\text { Income taxes } && 19,500 \\\text { Net income } && \$ 27,500 \\\end{array}\end{array}$
If the income statement were prepared in a multistep form,excess of other expenses over other revenues would be

• A) $7,000.
• B) $750.
• C) $13,250.
• D) $6,250.

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Selective Perception

The process by which individuals perceive what they want in media messages while ignoring opposing viewpoints.

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Selective Perception

The process by which individuals perceive what they want to in media messages while ignoring opposing viewpoints.