the general ledger of the fly buy nite fbn engineering company contained the followi 4375751

The general ledger of the Fly-Buy-Nite (FBN) Engineering Company contained the following account balances (partial listing) at the end of June, 2004. Construct an income statement. What is the net income before taxes and the net profit (or loss) after taxes? FBN has a tax rate of 27%. Amount (thousands) Administrative expenses ……………………….. $ 2,750 Subcontracted services ………………………… 18,000 Development expenses ………………………… 900 Interest expense ……………………………….. 200 Sales revenue ………………………………….. 30,000 Selling expenses ………………………………. 4,500 View Solution:
The general ledger of the Fly Buy Nite FBN Engineering Company contained

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