The Golden Books Company accounting records include the following for 20X6 (in thousands): Other revenues............................................................................. $ 1,800

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The Golden Books Company accounting records include the following for 20X6 (in thousands):

Other revenues............................................................................. $ 1,800

Income tax expense - extraordinary gain .................................. 500

Income tax expense - income from continuing operations........ 2,800

Extraordinary gain ....................................................................... 1,300

Sales revenue ................................................................................104,000

Total operating expenses.............................................................. 97,900

Required

1. Prepare Golden Books' single-step income statement for the year ended December 31, 20X6, including EPS. Golden Books had 1,600 thousand shares of common stock and no preferred stock outstanding during the year.

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...
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Financial Accounting

ISBN: 978-0135012840

7th edition

Authors: Walter T. Harrison, Charles T. Horngren

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