Question

The Riedl Corporation has the following information available on December 31, 2010. The tax rate is 30 percent. Show how this information is presented to external users in a multistep format.
Interest expense ................ $ 3,000
Sales salaries ................. 120,000
Rental revenue ................. 8,000
Accounts receivable .............. 101,000
Administrative salaries ............. 100,000
Sales .................. 1,500,000
Depreciation (40% selling, 60% administrative) .. 30,000
Dividends paid ................ 48,000
Cost of goods sold .............. 850,000
Sales returns and allowances .......... 15,000
Loss due to meteor damage ........... 70,000
Loss on sale of equipment .......... 79,000


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  • CreatedMarch 25, 2015
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