Prepare income statement for Coyote, Inc. from the following single-step

statement.

Net sales $1,833,000

Interest income 13,000

1,846,000

Costs and expenses:

Cost of good sold 1,072,000

Selling expenses 279,000

General and admin. expenses 175,000

Depreciation 14,000

Interest expense 16,000

Income tax expense 116,000

Net income $ 174,000

 

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