SPULS Instructions Note: You must complete Comprehensive Problem 4 (Part A) before completing Comprehensive Problem 4 (Part B). Required: 1. After all of the transactions for the year ended December 31, 2016, had been posted including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc A. Prepare a multiple-step income statement for the year ended December 31, 2016, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were $100.000. Enter all amounts as positive numbers EXCEPT in the Other income and expenses. In that section only, enter amounts that represent other expenses as negative numbers using a minus sign. Round earnings per share to the nearest cent. B. Prepare a retained earnings statement for the year ended December 31, 2016." C. Prepare a balance sheet in report form as of December 31, 2016 * Read the instructions above each financial statement carefully. They may contain specific instructions for completing the statement Previous Next Check My Work A A . 0 7 5:44 PM /29/2019 Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Instructions Income Statement data: Advertising expense Cost of merchandise sold Delivery expense Depreciation expense-office buildings and equipment Depreciation expense-store buildings and equipment Dividend revenue $ 150,000 3,700,000 30,000 30,000 100,000 4,500 4,980 76.800 140,500 21,000 2720 Gain on sale of investments Income of Pinkberry Co. investment Income tax expense Interest expense Internet revenue Previous Next Check My Work 5:44 PM 7/29/2019 rch walculator Comprehensive Problem 4 (Part B) Instructions Chart of Accounts Labels and Amount Descriptions Income Statement art1 art2 Instructions Interest revenue Miscellaneous administrative expense Miscellaneous selling expense Office rent expense 2,720 7,500 14,000 50,000 170,000 10,000 5,254,000 Office salaries expense Office supplies expense Sales Sales commissions 185,000 Sales salaries expense 385,000 21,000 Store supplies expense Retained earnings and balance sheet data: Previous Nex Check My Work Comprensive Problem 4 (Part B) Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Instructions Retained earnings and balance sheet data: Accounts payable $ 194,300 Accounts receivable 545,000 1,580.000 Accumulated depreciation office buildings and equipment Accumulated depreciation store buildings and equipment 4,126.000 Allowance for doubtful accounts 8,450 Available-for-sale investments (at cost) 260,130 500,000 Bonds payable, 5%, due 2024 Cash 246,000 Common stock, $20 par (400,000 shares authorized: 100,000 shares issued, 94.600 outstanding) 2,000,000 Dividends: Previous Next Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Instructions Cash dividends for common stock Cash dividends for preferred stock Goodwill Income tax payable 155,120 100,000 500,000 44,000 1.125 1,009,300 90,000 Interest receivable Investment in Pinkberry Co. stock (equity method) Investments Dream Inc. bonds long term) Merchandise inventory (December 31, 2016) at lower of cost (FIFO) or market Office buildings and equipment 778,000 4,320,000 13,000 Paid-in capital from sale of treasury stock Evoelens renverar Check My Work Previous Next > 5:45 PM 7/29/2019