Prepare the Amazing Company multi-step income statement for the year ended December 31, 2019. Include the EPS at the bottom. Also include a vertical analysis column at the right and perform a vertical analysis of the income statement.

 
 

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Amazing Company began operations on January 1, 2015, and is now in its fourth year of operations. It is a retail sales company with a large amount of online sales. The adjusted trial balance as of December 31, 2019 appears below, along with prior year balance sheet data and some additional transaction data for 2018. Account Title Cash Accounts Receivable Prepaid Insurance Inventory Office Equipment Machinery & Tools Accumulated Depreciation Accounts Payable Salaries Payable Sales Tax Payable Note Payable-Long Term Common Stock, $10 par Retained Earnings Dividends Sales Revenue Cost of Goods Sold Rent Expense Salaries Expense Insurance Expense Legal Fees Depreciation Expense Interest Expense Income Tax Expense AMAZING COMPANY Adjusted Trial Balance 12/31/2019 $ $ 2019 Adjusted Trial Balance Debit Credit 120,000 55,000 5,000 36,000 53,000 59,000 10,000 142,600 20,000 48,000 11,800 9,200 8,000 1,800 3,000 582,400 $ Transaction Data for 2018 (Note, these transactions were included in the trial balance numbers above.) Cash paid for purchase of office equipment $ Cash paid for purchase of tools Acquisition of Machinery with Notes Payable-Long-term Cash payment of dividends Cash receipt from issuance of 8,000 shares of common stock $ 6,000 15,000 23,000 10,000 80,000 24,000 12,200 2,600 2,000 23,000 240,000 38,600 240,000 $ 582,400 $ 2018 Post-Closing Trial Balance Debit Credit 125,600 35,000 6,000 15,600 47,000 21,000 250,200 16,000 16,800 2,700 4,000 12,100 160,000 38,600 250,200 Amazing Company began operations on January 1, 2015, and is now in its fourth year of operations. It is a retail sales company with a large amount of online sales. The adjusted trial balance as of December 31, 2019 appears below, along with prior year balance sheet data and some additional transaction data for 2018. Account Title Cash Accounts Receivable Prepaid Insurance Inventory Office Equipment Machinery & Tools Accumulated Depreciation Accounts Payable Salaries Payable Sales Tax Payable Note Payable-Long Term Common Stock, $10 par Retained Earnings Dividends Sales Revenue Cost of Goods Sold Rent Expense Salaries Expense Insurance Expense Legal Fees Depreciation Expense Interest Expense Income Tax Expense AMAZING COMPANY Adjusted Trial Balance 12/31/2019 $ $ 2019 Adjusted Trial Balance Debit Credit 120,000 55,000 5,000 36,000 53,000 59,000 10,000 142,600 20,000 48,000 11,800 9,200 8,000 1,800 3,000 582,400 $ Transaction Data for 2018 (Note, these transactions were included in the trial balance numbers above.) Cash paid for purchase of office equipment $ Cash paid for purchase of tools Acquisition of Machinery with Notes Payable-Long-term Cash payment of dividends Cash receipt from issuance of 8,000 shares of common stock $ 6,000 15,000 23,000 10,000 80,000 24,000 12,200 2,600 2,000 23,000 240,000 38,600 240,000 $ 582,400 $ 2018 Post-Closing Trial Balance Debit Credit 125,600 35,000 6,000 15,600 47,000 21,000 250,200 16,000 16,800 2,700 4,000 12,100 160,000 38,600 250,200