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rottstRI EN PRINTER VERSION 4BACK NEXT Brief Exercise 4-3 Your answer is partially correct. Try again. Novak Corporation had net sales of $2,409,200 and interest revenue of $38,100 during 2017. Expenses for 2017 were cost of goods sold $1,464,600 administrative expenses $212,400, selling expenses $284,000, and interest expense $ statement for Novak Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.) of common stock authorized and 71,390 shares issued and outstanding during 2017. Prepare a condensed multiple-step income 54,400. Novak's tax rate is 30%. The corporation NOVAK CORPORATION Income Statement For the Year Ended December 31, 2017 Net Sales 2409200 Cost of Goods Sold 1464600 Gross Profit / (Loss) 944600 1-212400 Administrative Expenses Selling Expenses 284000 496400 448200 Income From Operations O Type here to search Interest Revenue 38100 Other Expenses and Losses Interest Expense 54400 16300 431900 129570 302330 Net Income/ (Loss) 4.23 Earnings Per Share SHOW LIST OF ACCOUNTS 0 Type here to search H e Brief Exercise 4-3 Accumulated Depreciation-Equipment Administrative Expenses Bad Debt Expense Casualty loss Cost of Goods Sold Delivery Expense Depreciation Expense Entertainment Expense Equipment Gain on Sale of Plant Income Tax Expense Interest Expense Interest Revenue Loss from Earthquake Damage Maintenance and Repairs Expense Miscellaneous Selling Expenses Mortgage Payable Net Sales Office Expense Other Administrative Expenses Property Tax Expense Rent Revenue Salaries and Wages Expense Salaries and Wages Payable Sales Commission Sales Discounts Sales Returns and Allowances Sales Revenue Selling Expenses Telephone and Internet Expense Travel Expense

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