171. Eagle Corporation Presented below are all of the items from Eagle Corporation's income statement for the years ending December 31, 2014 and 2013. December 31, 2014 December 31, 2013 Service fees $2,300,000 $2,100,000 General and administrative expenses 1,900,000 1,500,000 Other income, net 40,000 20,000 Income taxes 150,000 180,000 Read the information about Eagle Corporation. Required:: How much is net income for the year ended December 31, 2014? If Eagle Corporation had used a single-step statement, by how much would net income be different? Explain. | |
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