A company reports the following amounts in its December 31, Year 1, income statement. Sales revenue $341,000 Income tax expense $43,000
Interest expense 13,000 Cost of goods sold 123,000
Salaries expense 33,000 Advertising expense 23,000
Utilities expense 43,000

Required:
Prepare a multiple-step income statement.

What cylinder head operation is the technician performing in this figure?

Which of the following is one of the advantages primarily associated with a performance appraisal? (a) it protects employees against discrimination on the basis of race. (b) it motivates employees to work on their shortcomings. (c) it encourages employees to play the role of the whistle-blower. (d) it accurately measures the resources of the firm.

Quick computing currently sells 12 million computer chips each year at a price of $19 per chip. it is about to introduce a new chip, and it forecasts annual sales of 22 million of these improved chips at a price of $24 each. however, demand for the old chip will decrease, and sales of the old chip are expected to fall to 6 million per year. the old chips cost $10 each to manufacture, and the new ones will cost $14 each. what is the proper cash flow to use to evaluate the present value of the introduction of the new chip? (enter your answer in millions.)