Question: Current Attempt in Progress Presented below is information related to 2020 for Wildhorse Company. Retained earnings, December 31, 2019 $667,000 Sales revenue 1,520,000 Selling and


Current Attempt in Progress Presented below is information related to 2020 for Wildhorse Company. Retained earnings, December 31, 2019 $667,000 Sales revenue 1,520,000 Selling and administrative expenses 247,000 Discontinued operations loss (pre-tax) 297,000 Cash dividends declared on common stock 33,600 Cost of goods sold 889,000 Gain discovered in 2020, from error on depreciation charge in 2018 (pre-tax) 519,000 Other revenue 116,000 Other expenses 110,000 Prepare in good form a multiple-step income statement for the year 2020. Assume a 30% tax rate and that 80,000 shares of common stock were outstanding during the year. (Round per share values to 2 decimal places, eg. $1.58.) Wildhorse Company INCOME STATEMENT A A tA A A > > > >
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