Grope Corporation began operations at the start of 2012.During hte yyear, it made cash and credit sales totaling $974,000 and collected $860,000 in...

Grope Corporation began operations at the start of 2012.During hte yyear, it made cash and credit sales totaling $974,000 and collected $860,000 in cash from its customers. It purchased inventory costing $508,000, paid $25,000 for dividentds and the cost of goods sold was $445,000. The coropration incurred the following expenses:$180,000$15,000$10,000$18,000income tax expense $65,000required:prepare an income statement showing revenues, expenses, pretax income, income tax expense, and net income for the year ended december 31,2012

Grope Corporation began operations at the start of 2012.During the year, it made cash and credit sales totaling $974,000 and collected $860,000 in cash from its customers. It purchased inventory...