Using the “Statement of Income” worksheet, center the financial statement titles across the data below and bold the company name Thom-Pierre Consultants (TPC) Quarterly Schedule of Revenue For the year December 31, 2018 QTR1 QTR2 QTR3 QTR4 2018 Sales 290000 320000 320000 490000 1,420,000 Interest 102500 175000 180000 54000 511,500 Investment Income 13000 9500 10000 20000 52,500 Other 16000 25000 19500 29000 89,500 Total 421,500 529,500 529,500 593,000 2,073,500 Thom-Pierre Consultants (TPC) COMPARITIVE INCOME STATEMENT for years ended 31 December 2018 2019 Revenues and gains Sales revenue Interest revenue Investment Income Other revenue Total revenue and gains Expenses and losses Cost of goods sold 460,000 Selling and admin administrative 195,000 *Computer (operating) Depreciation 55,000 **Interest expense 25,200 Total expenses and losses Income before taxes Income tax expense (30%) Net Income

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter3: The Basics Of Record Keeping And Financial Statement Preparation: Income Statement

Section: Chapter Questions

Problem 20P

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Using the “Statement of Income” worksheet, center the financial statement titles across the data below and bold the company name

Thom-Pierre Consultants (TPC)
Quarterly Schedule of Revenue
For the year December 31, 2018

	QTR1	QTR2	QTR3	QTR4	2018
Sales	290000	320000	320000	490000	1,420,000
Interest	102500	175000	180000	54000	511,500
Investment Income	13000	9500	10000	20000	52,500
Other	16000	25000	19500	29000	89,500
Total	421,500	529,500	529,500	593,000	2,073,500

Thom-Pierre Consultants (TPC)
COMPARITIVE INCOME STATEMENT
for years ended 31 December
			2018	2019
Revenues and gains
*Sales revenue
*Interest revenue
*Investment Income
*Other revenue
Total revenue and gains

Expenses and losses
**Cost of goods sold	460,000
**Selling and admin administrative	195,000
***Computer (operating)
**Depreciation		55,000
**Interest expense		25,200
Total expenses and losses
Income before taxes
Income tax expense (30%)
Net Income

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