Mantego Company listed the following selected pretax items as of December 31, 2013: Additional information: The preferred

Question:

Mantego Company listed the following selected pretax items as of December 31, 2013:

Mantego Company listed the following selected pretax items as of

Additional information:
The preferred shares had been outstanding the entire year; annual dividends were declared and paid in 2013.
During 2013, 2,000 common shares were issued on July 2, and 6,000 common shares were issued on November 3. Common dividends of $12,500 were declared and paid in 2013. The company is subject to a 30% income tax rate.
Required:
Prepare Mantego's 2013 income statement (multiple-step) and the related note.

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Related Book For  book-img-for-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1111822361

1st edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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