multiple -step income statement

Resources: Financial Accounting: Tools for Employment Decision Making Scenario: An unpracticed accountant unhesitating this curt pay announcement for Simon Company, a dispose-of unshaken that has been in employment for a sum of years. SIMON COMPANY Income Statement For the Year Ended December 31, 2017  Revenues  Net sales $850,000 Other enrichments 22,000 872,000 Cost of property sold 555,000 Gross profit 317,000 Operating payments Selling payments 109,000 Administrative payments 103,000 212,000 Net earnings $105,000 As an practiced, knowledgeable accountant, you criticism the announcement and mention the aftercited facts: Net sales await of: sales $911,000, less freight-out on goods sold $33,000, and sales produce and allowances $28,000. Other enrichments await of sales discounts $18,000 and divulsion enrichment $4,000. Selling payments await of salespersons' salaries $80,000, deterioration on equipment $10,000, advertising $13,000, and sales commissions $6,000.  The commissions personate commissions compensated. At December 21, $3,000 of commissions keep been earned by salespersons but keep not been compensated.  All damages should be narrative as Salaries and Wages Expense. Administrative payments await of service salaries $47,000, dividends $18,000, utilities $12,000, cause payment $2,000, and divulsion payment $24,000, which includes prepayments totaling $6,000 for the primeval forbearance of 2018.  Prepare a specific multi-step pay announcement after a while a short description of 700 say. Assume a 25% tax rate Show your toil on the Excel spreadsheet and propose after a while your description