The adjusted trial balance of Pacific Scientific Corporation onDecember 31, 2013, the end of the company?s fiscal year, containedthe following income statement items: sales revenue, $2,105; costof goods sold, $1,250; selling expenses, $120; general andadministrative expenses, $110; interest expense, $35; and gain onsale of investments, $50. Income tax expense has not yet beenaccrued. The income tax rate is 30%.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *