Question

Pina Colada Limited reports the following information: sales $1,114,000; sales returns and allowances $23,000; sales discounts...

Pina Colada Limited reports the following information: sales $1,114,000; sales returns and allowances $23,000; sales discounts $18,800; cost of goods sold $650,600; administrative expenses $158,600; selling expenses $109,300; other revenues $25,100; other expenses $35,600; and income tax expense $28,300. Assume Pina Colada uses a multiple-step income statement.

calculate

net sales

gross profit

income from operations

income before tax

net income

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