Exercise 5-8 (Part Level Submission)In its income statement for the year ended December 31

| January 31, 2017

Question
Exercise 5-8 (Part Level Submission)In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data.

Salaries and wages expenses $855,600 Loss on disposal of plant assets $ 153,640
Cost of goods sold 1,816,080 Sales revenue 4,066,400
Interest expense 130,640 Income tax expense 46,000
Interest revenue 119,600 Sales discounts 294,400
Depreciation expenses 570,400 Utilities expense
202,400
Warning

Don’t show me this message again for the assignment

Ok Cancel
(a)Prepare a multiple-step income statement.(List other revenues before other expenses.)

GAVIN COMPANY
Income Statement
For the Year Ended December 31, 2014
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales
$
Add Less :
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales $
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales
$
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales
$
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31Sales RevenuesTotal ExpensesTotal RevenuesSalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsNet Sales

Get a 30 % discount on an order above $ 50
Use the following coupon code:
COCONUT
Order your essay today and save 30% with the discount code: COCONUTOrder Now
Positive SSL