Transcribed Image Text: Q.3 The following 2012 information related to the Tom Hanks Corp. 1 600 000 -Cost of purchases -Rental revenues 87 500 -Rental expenses 46 250 -Sales and

Transcribed Image Text: Q.3
The following 2012 information related to the Tom Hanks Corp.
1 600 000
-Cost of purchases
-Rental revenues
87 500
-Rental expenses
46 250
-Sales and distribution salaries
-Sales commission
-Dividend received
63 000
15 000
18 750
48 750
Administration salaries
-Losses on disposal of Equipment
-Net sales
7 500
2 125 000
-Advertising expenses
-Gain on disposal of office Assets
-Income taxes
187 500
17 500
7 500
Ins:
Prepare an income statement with single -step -form for the year ended in
Dec.31.2012 .
(6M)

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