The following information was taken from the records of Metlock Inc. for the year 2025: Income...
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The following information was taken from the records of Metlock Inc. for the year 2025: Income tax applicable to income from continuing operations $313,480; income tax applicable to loss on discontinued operations $37,400; income tax applicable to unusual gain $47,600; income tax applicable to unusual loss $29,240; and unrealized holding gain on available-for-sale securities, net of taxes, $20,000. Unusual gain Loss on discontinued operations Administrative expenses Rent revenue Unusual loss $140,000 110,000 340,000 52.000 86,000 Shares outstanding during 2025 were 100,000. Cash dividends declared Retained earnings January 1, 2025 Cost of goods sold Selling expenses Sales $190,000 860,000 1,100,000 390,000 2,700,000 A Prepare a single-step income statement for 2025. Round namings par share to 2 decimal places, eg 1.48) The following information was taken from the records of Metlock Inc. for the year 2025: Income tax applicable to income from continuing operations $313,480; income tax applicable to loss on discontinued operations $37,400; income tax applicable to unusual gain $47,600; income tax applicable to unusual loss $29,240; and unrealized holding gain on available-for-sale securities, net of taxes, $20,000. Unusual gain Loss on discontinued operations Administrative expenses Rent revenue Unusual loss $140,000 110,000 340,000 52.000 86,000 Shares outstanding during 2025 were 100,000. Cash dividends declared Retained earnings January 1, 2025 Cost of goods sold Selling expenses Sales $190,000 860,000 1,100,000 390,000 2,700,000 A Prepare a single-step income statement for 2025. Round namings par share to 2 decimal places, eg 1.48)
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Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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