Question - Solar Power Inc. had the following transactions during 2105.
|
Sales revenue
|
$60,000
|
|
Equipment rental revenue
|
1680
|
|
Cost of sales
|
24,750
|
|
Selling and administrative expenses
|
13,080
|
|
Interest expense
|
2,240
|
|
Gain on sale of old machinery
|
840
|
|
Unrealized gain on available for sale securities
|
624
|
(A) Prepare a multi-step income statement of Solar Power Inc. assuming income tax rate applicable to SolarPower is 30%.
(B) Compute comprehensive income.