Q1) The data given below were taken from records of Motion Data Inc at December 31, 20D
| Sales Revenue |
$120,000 |
| Administration expense |
10,000 |
| Selling expense |
18,000 |
| Income tax rate |
25% |
| Gross margin (profit ratio) |
40% |
| Shares outstanding |
2,000 |
1. Create complete single-step income statement for company (comprising pretax income, and earnings per share)
2. Create complete multiple-step income statement for company (comprising gross margin, pretax income, and earnings per share)