Beasley, Inc Prepare a Multiple-Step Income Statement

question 111

Essay

Beasley, Inc. reports the following amounts in its December 31, 2012, income statement. $$\begin{array} { l r l r } \text { Sales revenue } & \$ 300,000 & \text { Income tax expense } & \$ 38,000 \\\text { Interest expense } & 12,000 & \text { Cost of goods sold } & 125,000 \\\text { Salaries expense } & 35,000 & \text { Advertising expense } & 24,000 \\\text { Utilities expense } & 41,000 & &\end{array}$$ Prepare a multiple-step income statement.

---

Definitions:

Want-Satisfaction

A sales technique focusing on identifying the desires of a customer and demonstrating how a product or service fulfills them.

Business Philosophy

An underlying set of beliefs and principles that guide a company's operations, decision-making, and strategies.

Firm's Existence

Refers to the presence of a business in the market, having operational activities, offering products or services.

Gallup Poll

A public opinion survey conducted by Gallup, a global analytics and advice firm, to assess public opinion on various topics.