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1. (21 Presented below is 1. (21 points) Presented below is information related to Richardson Corp. for the year unrealized holding loss on available-for-sale securities
1. (21 points) Presented below is information related to Richardson Corp. for the year unrealized holding loss on available-for-sale securities Rent revenue Loss due to flooding of builcfng Depreciation expense omitted in 2015 Net sales Interest expense Selling expenses Cost of goods sold Dividends declared on common shares Dividend revenue Dividends declared on preferred shares Administrative expenses Gain from disposal of component of business Loss from operation of discontinued component of business Federal tax rate of 35% on all items Required: $211,000 23,500 130.500 85,100 39 ,900 82,500 1,356,300 65,900 26,100 68.300 314.900 263.200 Prepare a multiple-step income statement for 2020. Assume that 171,360 shares of common stock were outstanding during 2020.
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