Lewis Company's records show the following information at December 31, 2020, its annual year-end. Sales revenue...

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Lewis Company's records show the following information at December 31, 2020, its annual year-end. Sales revenue $228.000 nterest expense $9.600 84.000 Earthquake loss on building 26,400 Loss on sale of warehouse 43.200 Cost of goods sold 28800 Common stock shares outstanding 10.000 shares Service revernue 36.000 Gain on sale of short-term investments Selling expense General and administrative expense Depreciation expense (administrative) *Loss on sale of warehouse is considered nonoperating 7200 108000 14400 Income tax rate 25% Required a. Prepare a single-step income statement (including earnings per share). b. Prepare a multiple-step income statement (including earnings per share). • Enter revenues and gains and expenses and losses in the order of the largest dollar amount to the smaiest dollar amount. • Do not use negative signs with any of your answers. • Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. a. Prepare a single-step income statement (including earnings per share). Lewis Company Income Statement For the Year Ended December 31, 2020 Total revenues and gains Total expenses and losses Earnings per share 00 b. Prepare a multiple-step income statement (including earnings per share). Lewis Company Income Statement For the Year Ended December 31, 2020 Operating expenses Selling expenses General and administrative expenses Total operating expenses Operating income 0. %24 Earnings per share %24 Lewis Company's records show the following information at December 31, 2020, its annual year-end. Sales revenue $228.000 nterest expense $9.600 84.000 Earthquake loss on building 26,400 Loss on sale of warehouse 43.200 Cost of goods sold 28800 Common stock shares outstanding 10.000 shares Service revernue 36.000 Gain on sale of short-term investments Selling expense General and administrative expense Depreciation expense (administrative) *Loss on sale of warehouse is considered nonoperating 7200 108000 14400 Income tax rate 25% Required a. Prepare a single-step income statement (including earnings per share). b. Prepare a multiple-step income statement (including earnings per share). • Enter revenues and gains and expenses and losses in the order of the largest dollar amount to the smaiest dollar amount. • Do not use negative signs with any of your answers. • Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. a. Prepare a single-step income statement (including earnings per share). Lewis Company Income Statement For the Year Ended December 31, 2020 Total revenues and gains Total expenses and losses Earnings per share 00 b. Prepare a multiple-step income statement (including earnings per share). Lewis Company Income Statement For the Year Ended December 31, 2020 Operating expenses Selling expenses General and administrative expenses Total operating expenses Operating income 0. %24 Earnings per share %24

Answer rating: 100% (QA)

Singlestep income Statement Lewis Company Income Statemen... View the full answer