Exercise 4-2 (Algo) Income statement format; single step and multiple step [LO4-1, 4-5] The following is...
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Exercise 4-2 (Algo) Income statement format; single step and multiple step [LO4-1, 4-5] The following is a partial trial balance for the Green Star Corporation as of December 31, 2021: Account Title Debits Credits Sales revenue 1,250,000 32,000 52,000 Interest revenue Gain on sale of investments Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense 710,000 170,000 77,000 42,000 132,000 There were 140,000 shares of common stock outstanding throughout 2021. Required: 1. Prepare a single-step income statement for 2021, including EPS disclosures. 2. Prepare a multiple-step income statement for 2021, including EPS disclosures. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Réquired 1 Réquired 2 Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 dec GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Total revenues and gains Expenses and losses: Total expenses and losses Income before income taxes Net income Earnings per share Prepare a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted with a minus sign. Round EPS answer to 2 decimal places.) ........ .. ........ ... ....... ....................... ....... GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2021 Gross profit Operating expenses: Total operating expenses Operating income Other income (expense): Total other income, net Income before income taxes Net income Earnings per share Exercise 4-2 (Algo) Income statement format; single step and multiple step [LO4-1, 4-5] The following is a partial trial balance for the Green Star Corporation as of December 31, 2021: Account Title Debits Credits Sales revenue 1,250,000 32,000 52,000 Interest revenue Gain on sale of investments Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense 710,000 170,000 77,000 42,000 132,000 There were 140,000 shares of common stock outstanding throughout 2021. Required: 1. Prepare a single-step income statement for 2021, including EPS disclosures. 2. Prepare a multiple-step income statement for 2021, including EPS disclosures. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Réquired 1 Réquired 2 Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 dec GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Total revenues and gains Expenses and losses: Total expenses and losses Income before income taxes Net income Earnings per share Prepare a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted with a minus sign. Round EPS answer to 2 decimal places.) ........ .. ........ ... ....... ....................... ....... GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2021 Gross profit Operating expenses: Total operating expenses Operating income Other income (expense): Total other income, net Income before income taxes Net income Earnings per share
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Required 1 Singlestep income statement Revenues and gains Sales revenue 1250000 Interest reven... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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