Discount Business Systems uses a perpetual inventory system. The adjusted trial

Question

Discount Business Systems uses a perpetual inventory system. The adjusted trial balance of Discount Business Systems at March 31, 2018, follows EEE (Click the icon to view the adjusted trial balance.) Data Table Prepare Dscount's mu ti-siep income statement for the year ended March 31, 2018. (Use a minus sign or parentheses to show other expenses.) Discount Business Systems Income Statoment Year Ended March 31, 2018 Discount Business Systems Adjusted Trial Balance March 31, 2018 Account Titlo Cesh Accounts Recevabe Merchandise Imvetory Oice Supplies Dobit Crodit 2.600 13,500 32.000 6.700 42.000 13,000 9,900 1,100 B,300 21,300 Accounts Payable Salaries Payable Ncbes Payable, long-term Morris, Capital Morris. Withdrawals Sales Revenue Ccet of Goods Sod Seling Expense Administrative Expense Interest Expense Tota Net Income (Loes) 230,000 103.500 27.300 14.600 2400 S 283,600 283,600 Print Done

Explanation / Answer

Prepare multiple income statement :

Sales revenue 230000 Cost of goods sold (103500) Gross profit 126500 Operating expense Selling expense (27300) Administrative expense (14600) Total operating expense (41900) Income from operation 84600 Other expense Interest expense (2400) Total interest expense (2400) Net income (loss) 82200

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