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Unformatted text preview: The second event was a $3,000,000 gain related to sale of valuable antiquities that were excavated at a construction site. This event was completely unexpected. Melanie Mielke's annual sales were $9,000,000, at a gross margin of 15%. Selling expenses totaled $300,000 and administrative expenses totaled $800,000. Mielke is subject to a 30% income tax rate. Prepare the 20XX income statement for Melanie Mielke Construction Corporation....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.
- Spring '11