S1-12. (Learning Objective 4: Construct an income statement) MacKensie ServicesCorporation began 2018 with total assets of $230 million and ended 2018 with totalassets of $365 million. During 2018, MacKensie earned revenues of $394 million and hadexpenses of $171 million. MacKensie declared and paid dividends of $27 million in 2018.Prepare the company’s income statement for the year ended December 31, 2018, completewith an appropriate heading.
S1-12. (Learning Objective 4: Construct an income statement) MacKensie ServicesCorporation began 2018 with total assets of $230 million and ended 2018 with totalassets of $365 million. During 2018, MacKensie earned revenues of $394 million and hadexpenses of $171 million. MacKensie declared and paid dividends of $27 million in 2018.Prepare the company’s income statement for the year ended December 31, 2018, completewith an appropriate heading.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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S1-12. (Learning Objective 4: Construct an income statement) MacKensie Services
Corporation began 2018 with total assets of $230 million and ended 2018 with total
assets of $365 million. During 2018, MacKensie earned revenues of $394 million and had
expenses of $171 million. MacKensie declared and paid dividends of $27 million in 2018.
Prepare the company’s income statement for the year ended December 31, 2018, complete
with an appropriate heading.
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