The Dobson Company gathered the following condensed data for the year ended December 31, 2014: $\begin{array}{lr}
\text { Cost of goods sold } & \$ 720,000 \
\text { Net sales } & 1,249,000 \
\text { Administrative expenses } & 289,000 \
\text { Interest expense } & 68,000 \
\text { Dividends paid } & 38,000 \
\text { Selling expenses } & 45,000
\end{array}$ Instructions
Prepare an income statement for the year ended December 31, 2014.

Question

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The Answer of The Dobson Company gathered the following condensed data for the year ended December 31, 2014: $\begin{array}{lr}
\text { Cost of goods sold } & \$ 720,000 \
\text { Net sales } & 1,249,000 \
\text { Administrative expenses } & 289,000 \
\text { Interest expense } & 68,000 \
\text { Dividends paid } & 38,000 \
\text { Selling expenses } & 45,000
\end{array}$ Instructions
Prepare an income statement for the year ended December 31, 2014.

The Dobson Company Gathered the Following Condensed Data for the Year