South Company listed the following items in its adjusted trial balance on December 31 2016 Loss from
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Question:
South Company listed the following items in its adjusted trial balance on December 31 2016
Loss from fire (pretax) | $7,900 | General and administrative expenses | $16,400 | |
Interest revenue | 2,200 | Sales revenue | 155,000 | |
Selling expenses | 14,200 | Unrealized decrease in fair value of | ||
Cost of goods sold | 92,000 | available-for-sale securities | 1,700 | |
Loss on sale of equipment (pretax) | 1,900 |
There were 6000 shares of common stock outstanding for the entire year and the income tax rate is 30.
Required:
Prepare a 2016 multiple-step income statement. Disregard EPS disclosure.
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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