Sur Plaza Co. 31/12/20 Partial Trial Balance Data Sales revenue Interest revenue Gain on sale of...

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Sur Plaza Co. 31/12/20 Partial Trial Balance Data Sales revenue Interest revenue Gain on sale of investments (infrequent but not unusual item) Cost of goods sold 750,000 Salaries and wages 225,000 Depreciation expense 60,000 Interest expense 45,000 Marketing and administrative expenses 90,000 Sur had 75,000 shares outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 20%. Debits Credits 1,050,000 90,000 165,000 1. Using a single-income statement, total revenues and gains would be OOR1,215,000 OOR1.305,000 COR1,050,000 OOR1,140,000 2. Using a single-income statement, total expenses would be: OOR1,197,000 OOR1,137,000 COR1,152,000 COR1,170,000 3. Using Multiple-income statement, a gross profit would be: OOR550,000 OOR300,000 COR465,000 OOR390,000 4. Using a single or multiple -income statement, a net income would be: COR86,400 OOR108,000 OOR135,000 OOR144,000 5. Earnings per share would be: COR1.147 OOR1.800 COR1..440 OOR1.920 Sur Plaza Co. 31/12/20 Partial Trial Balance Data Sales revenue Interest revenue Gain on sale of investments (infrequent but not unusual item) Cost of goods sold 750,000 Salaries and wages 225,000 Depreciation expense 60,000 Interest expense 45,000 Marketing and administrative expenses 90,000 Sur had 75,000 shares outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 20%. Debits Credits 1,050,000 90,000 165,000 1. Using a single-income statement, total revenues and gains would be OOR1,215,000 OOR1.305,000 COR1,050,000 OOR1,140,000 2. Using a single-income statement, total expenses would be: OOR1,197,000 OOR1,137,000 COR1,152,000 COR1,170,000 3. Using Multiple-income statement, a gross profit would be: OOR550,000 OOR300,000 COR465,000 OOR390,000 4. Using a single or multiple -income statement, a net income would be: COR86,400 OOR108,000 OOR135,000 OOR144,000 5. Earnings per share would be: COR1.147 OOR1.800 COR1..440 OOR1.920

Answer rating: 100% (QA)

1OR1305000 Explanation Sales revenue 1050000 Interest revenue 9... View the full answer