The company should report $825,000 as Total Revenues on its single-step income statement for 2020. Total Revenues is the sum of Sales revenue ($800,000), Interest revenue ($10,000), and Dividends ($15,000).
Below is information for a company�s 2020 income statement. The comp.pdf
1. Below is information for a companys 2020 income statement. The company's tax rate is 40%.
What amount should the company report as Total Revenues on the single-step income
statement?Sales revenue800,000Interest revenue10,000Dividends15,000Cost of goods
sold300,000Sales discounts16,000Selling expenses80,000Administrative
expenses150,000Interest expense3,000Gain on sale of equipment8,000