The trial balance of Lindor Corporation, a manufacturing company, for the year ended December 31, 2016, included
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Question:
The trial balance of Lindor Corporation, a manufacturing company, for the year ended December 31, 2016, included the following income statements: |
account title | Debts | Credits |
sales revenue | 2.540.000 | |
cost of goods sold | 1,510,000 | |
Selling and administrative expenses | 439,000 | |
Interest expenses | 51,000 | |
Unrealized holding gains on investment securities | 91,000 | |
The trial balance does not include the accrual of income taxes. Lindor's income tax rate is 30%. 1.3 million common shares were outstanding throughout 2016. |
Required: | |
Prepare a single and continuous multi-step comprehensive income statement for 2016, including the appropriate EPS disclosures. |
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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