Barkin Corporation's accounting records include the following items for the year ending December 31, 2017:
Gain on Sale of Equipment $12,000 Gain on Discontinued Operations $75,000
Loss on Disposal of Equipment 5,000 Extraordinary Loss 15,000
Net Sales 650,000 Cost of Goods Sold 285,000
Operating Expenses 120,000
The income tax rate for the company is 25%. Prepare Barkin's income statement for the year ended December 31, 2017. Omit earnings per share.

Question

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The Answer of Barkin Corporation's accounting records include the following items for the year ending December 31, 2017:
Gain on Sale of Equipment $12,000 Gain on Discontinued Operations $75,000
Loss on Disposal of Equipment 5,000 Extraordinary Loss 15,000
Net Sales 650,000 Cost of Goods Sold 285,000
Operating Expenses 120,000
The income tax rate for the company is 25%. Prepare Barkin's income statement for the year ended December 31, 2017. Omit earnings per share.

Barkin Corporation's Accounting Records Include the Following Items for the Year