PRINTER VERSION BACK NEXT Problem 4-4 (Part Level Submission) The following account balances were included in the trial balance of Teal 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) Miscellareous selling expenses Office supplies used Telephone and Internet expense (administration) $1,594,320 32,400 906,600 57.560 99,250 34,000 22,840 15,080 9,150 5,251 5,702 4,605 3,287 2,703 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 $7,213 7,949 5,170 8,340 5,520 65,164 40,670 16,990 94,080 19,148 9,030 36,450 The Retained Earnings account had a balance of $332,700 at July 1, 2016. There are 75,210 shares of common stock outstanding. (ai) Your answer is partially correct. Try again. 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.) TEAL CORPORATION Income Statement For the Year Ended June 30, 2017 Show All MacBook Pro Q Search or type URL Your answer is partially correct. Try again. using the multiple-step form, prepare an income statement for the year ended June 30, 2017. (Round earnings per Share to 2 decimal place TEAL CORPORATION Income Statement For the Year Ended June 30, 2017 Sales 1594320 Tess Sales Discounts 32400 I Sales Returns and Allowances 97564 Net Sales 1496756 Cirche Cost of Goods Sold 906600 Gross Profit/ (Loss) 590156 Operating Expenses Selling Expenses T Sales Commissions 99250 Show All MacBook Pro Search or type URL Sales Commissions 99250 Salaries and Wages Expense 57560 Travel Expense 34000 Delivery Expense 22840 15080 Telephone and internet Expense 9150 Maintenance and Repairs Expense Depreciation Expense Bad Debt Expense T Miscellaneous Sing penses 0 Total Selling Expenses - 0 Administrative Expenses - 0 Maintenance and Repairs Expense 8340 0 - 0 Supplies Expense - -0 Show AlX MacBook Pro c e Search or type URL TerLUS Stem Ancements rarone community College RESOURCES Sue Expense Serin 2020) 1 .17 T Office Expenses Total Administrative Expenses Results by Study 296536 Other Revenues and Gains 40670 Lor penses and losses 16990 Income before Income Tax 320216 Income Tax Expense (94,080) Net Income LS) 226136 Earnings Per Common Share 3.01 SHOW LIST OF ACCOUNTS DATED NAB.pdf MacBook Pro Search or type URL