Question

On December 31, 2010, the Adandt Company listed the following items in its adjusted trial balance:
Extraordinary loss (pretax) ................ $ 8,000
Interest revenue ..................... 2,500
Sales returns and allowances ................ 3,000
Selling expenses .................... 14,000
Cost of goods sold ................... 95,000
Loss on sale of equipment (pretax) ............... $ 2,000
General and administrative expenses ............... 17,000
Sales .......................... 163,000
Unrealized decrease in value of available-for-sale securities.... 1,800
Additional data:
1. Seven thousand shares of common stock have been outstanding the entire year.
2. The income tax rate is 30% on all items of income.

Required
1. Prepare a 2010 multiple-step income statement.
2. Prepare a 2010 single-step income statement.
3. Prepare a 2010 statement of comprehensive income.



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  • CreatedDecember 09, 2013
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