Prepare a single-step income statement

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Reference no: EM132216395

Question - In its income statement for the year ended December 31, 2019, Wildhorse Co. reported the following condensed data.

Operating expenses	$768,510	Interest revenue	$28,430
Cost of goods sold	1,296,900	Loss on disposal of planet assets	16,140
Interest expense	71,980	Net sales	2,407,700
		Other comprehensive income	7,170

Required -

Prepare a multiple-step income statement.

Prepare a single-step income statement.

Reference no: EM132216395

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