The Engle Company lists the following accounts on its adjusted

The Engle Company lists the following accounts on its adjusted trial balance as of December 31, 2007.


The Engle Company lists the following accounts on its adjusted


The following additional information is also available. The December 31, 2007, ending inventory is $14,700. During 2007, 4,200 shares of common stock were outstanding the entire year. The income tax rate is 30% on all items of income.

Required
1. As a supporting document for Requirements 2 and 3, prepare a separate schedule for Engle Company's cost of goods sold.
2. Prepare a 2007 single-step income statement.
3. Prepare a 2007 multiple-step income statement.
4. Prepare a 2007 statement of comprehensiveincome.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...