The following information was taken from the records of Filner Cosmetics, Inc., at December 31, 20X8. Required
Question:
The following information was taken from the records of Filner Cosmetics, Inc., at December 31, 20X8.
Required
1. Prepare Filner Cosmetics' single-step income statement, which lists all revenues together and all expenses together, for the fiscal year ended December 31, 20X8. Include earnings-per-share data.
Transcribed Image Text:
Dividends on common stock.$37,000 23,000 . 8,000 11,000 Prior-period adjustment debit to Retained Earnings..$ 4, s 4,000 28,000 2,000 Interest expense. Income tax expense (saving): Dividend reven Treasury stock, common Continuing operations Income from discontinued operations. Extraordinary loss (2,000 shares at cost) 71,000 567,000 (10,800) Loss on sale of plant assets Income from discontinued General expenscs. Sales revenue Retained earnings, beginning, operations 7,000 Preferred stock, 6%, $25 par, Selling expense Common stock, no par, 87,000 100,000 22,400 319,000 4,000 shares issued. Extraordinary loss Cost of goods sold. 22,000 shares authorized and issued 350,000
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Related Book For
Financial Accounting
ISBN: 978-0135012840
7th edition
Authors: Walter T. Harrison, Charles T. Horngren
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