Question: please help Problem 4-04 (Part Level Submission) The following account balances were included in the trial balance of Blue Corporation at June 30, 2020. Sales



Problem 4-04 (Part Level Submission) The following account balances were included in the trial balance of Blue Corporation at June 30, 2020. Sales revenue $1,585,460 Depreciation expense (office furniture and equipment) $7,316 Sales discounts 32,220 Property tax expense 7,565 Cost of goods sold 903,300 Bad debt expense (selling) 5,113 Salaries and wages expense (sales) 56,740 Maintenance and repairs expense (administration) 9,911 Sales commissions 98,540 Office expense 6,270 Travel expense (salespersons) 36,900 Sales returns and allowances 60,222 Delivery expense 23,030 Dividends received 37,330 Entertainment expense 15,120 Interest expense 17.720 Telephone and Internet expense (sales) 9,240 Income tax expense 99,760 Depreciation expense (sales equipment) 4,646 Depreciation understatement due to error-2017 (net of tax) 17,652 Maintenance and repairs expense (sales) 6,350 Dividends declared on preferred stock 8,450 Miscellaneous selling expenses 4,542 Dividends declared on common stock 33,760 Office supplies used 3,715 Telephone and Internet expense (administration) 3.057 The Retained Earnings account had a balance of 5316,930 at July 1, 2019. There are 80,320 shares of common stock outstanding (1) Using the multiple-step form, prepare an income statement for the year ended June 30, 2020. (Round earnings per Share to 2 decimal places, e.o. 1.18.) BLUE CORPORATION Income Statement Using the multiple-step form, prepare an income statement for the year ended June 30, 2020. (Round earnings per share to 2 decimal places, e.g. 1.- BLUE CORPORATION Income Statement A v V 51
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