The following account balances were included in the trial balance of Windsor Corporation at June 30,...

    

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The following account balances were included in the trial balance of Windsor Corporation at June 30, 2025. 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) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,590,310 32,380 905,000 57,230 98,550 38,600 22,810 14,890 9,100 5,045 6,622 4,449 3,487 2,697 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 revenue Interest expense Income tax expense Depreciation understatement due to error-2025 (net of tax) Dividends declared on preferred stock Dividends declared on common stock $7,048 7,548 4,779 8,907 5,710 60,398 36,400 18,820 108,540 16,967 8,830 35,750 The Retained Earnings account had a balance of $322,880 at July 1, 2024. There are 77,630 shares of common stock outstanding. Using the multiple-step form, prepare an income statement for the year ended June 30, 2025. (Round earnings per share to 2 decimal places, e.g. 1.48.) The following account balances were included in the trial balance of Windsor Corporation at June 30, 2025. 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) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,590,310 32,380 905,000 57,230 98,550 38,600 22,810 14,890 9,100 5,045 6,622 4,449 3,487 2,697 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 revenue Interest expense Income tax expense Depreciation understatement due to error-2025 (net of tax) Dividends declared on preferred stock Dividends declared on common stock $7,048 7,548 4,779 8,907 5,710 60,398 36,400 18,820 108,540 16,967 8,830 35,750 The Retained Earnings account had a balance of $322,880 at July 1, 2024. There are 77,630 shares of common stock outstanding. Using the multiple-step form, prepare an income statement for the year ended June 30, 2025. (Round earnings per share to 2 decimal places, e.g. 1.48.)

Answer rating: 100% (QA)

ANSWER Income statement for the year ended June 30 2025 Amount Sales Revenue 1590310 Less Sales Disc... View the full answer