CALCULATOR STANDARD VIEW PRINTER VERSION 4 BACK Problem 4-4 The following account balances were included in the trial balance of Marin Corporation at June 30, 2017. Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,589,330 32,770 898,500 56,960 99,050 35,000 22,220 15,060 9,230 5,411 6,290 4,874 3,367 2,676 Depreciation expense (office furniture and equipment) Property tax expense Bad debt expense (selling) Maintenance and repairs expense (administration) Office expense Sales returns and allowances Dividends received Interest expense Income tax expense Depreciation understatement due to error-2014 (net of tax) Dividends declared on preferred stock Dividends declared on common stock $6,697 7,616 5,289 9,928 5,690 57,492 35,470 16,220 101,760 18,693 8,770 33,790 The Retained Earnings account had a balance of $351,680 at July 1, 2016. There are 84,210 shares of common stock outstanding. Using the multiple-step form, prepare an income statement for the year ended June 30, 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.) MARIN CORPORATION Income Statement For the Year Ended June 30, 2017 - Sales Sales Revenue 1589330 Less . Sales Discounts 32770 Sales Returns and Allowances : 57492 90262 Net Sales 1499068 Cost of Goods Sold 898500 MARIN CORPORATION Income Statement For the Year Ended June 30, 2017 Sales Discounts 32770 Sales Returns and Allowances 57492 Net Sales 1499068 Cost of Goods Sald Gross Profit/ (Loss) 600568 Operating Expenses Selling Expenses Salaries and Wages Expense Sales Commissions Travel Expense Delivery Expense Entertainment Expense Telephone and Internet Expense Depreciation Expense Maintenance and Repairs Expense Miscellaneous Seling Expenses Bad Debt Expense Total Selling Expenses Administrative Expenses Telephone and Internet Expense Depreciation Expense Maintenance and Repairs Expense Office Expenses Property Tax Expense Supplies Expanse CALCULAT Property Tax Expenda Supplies Expense Total Administrative Expenses Income from Operations Income from Operations Other Revenues and Gains Dividend Revenue Other Expenses and Losses Interest Expense Net Income / (Loss) Earnings Per Common Share Prepare a retained earnings statement for the year ended June 30, 2017. (List items that increase adjusted rel MARIN CORPORATION Retained Earnings Statement Using the single-step form, prepare an income statement for the year ended June 30, 2017. (Round earnings CALCULATOR Using the single-step form, prepare an income statement for the year ended June 30, 2017. (Round earnings per share MARIN CORPORATION Income Statement For the Year Ended June 30, 2017 Prepare a retained earnings statement for the year ended une 30, 2017 List items that increase adjusted retained earnings MARIN CORPORATION Retained Earnings Statement For the Year Dadeo June 30, 2017 Retained Earnings, July 1, 2016, as Reported: Retained Earnings, July 1, 2016. as Ajusted . Prepare a retained earnings statement for the year ended June 30, 2017. (List Items that increase adjusted MARIN CORPORATION Retained Earnings Statement For the Year Ended June 30, 2017 Retained Earnings, July 1, 2016, as Reported Retained Earnings, July 1, 2016, as Adjusted Retained Earnings, June 30, 2017 Click if you would like to Show Work for this question: Doen Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Polic Qu