As you have learned generally accepted accounting principles(GAAP) require organ

As you have learned generally accepted accounting principles(GAAP) require organizations to prepare both an income statementand a balance sheet. Before the balance sheet can be prepared theorganizations net income must be determined. This requires theaccountant to pull together data from numerous system accounts andother sources of information. In this assignment you willdemonstrate your skill in putting together the necessary accountdata and preparing an income statement in good form.