(Solution) - Using the following list of accounts prepare income statements -(2025 Original AI-Free Solution)

Paper Details

Using the following list of accounts, prepare income statements. (The $000,000 indicates all numbers are millions.)
Accounts $000,000
Product Revenues ...... 400
New Product Development ... 50
Interest Expense ......... 4
Marketing Expenses ...... 15
Production Materials & Labor .. 245
Depreciation .......... 20
Corporate IT expense ...... 15