Bramble Corporation had sales revenue of $5,900,000 and investment revenue of $227,000 for the year ended December
Question:
Bramble Corporation had sales revenue of $5,900,000 and investment revenue of $227,000 for the year ended December 31, 2023. Other items pertaining to 2023 were as follows:
Cost of goods sold | $4,600,000 | ||
Salaries and wages expense (sales) | 362,000 | ||
Advertising expense | 121,000 | ||
Entertainment expense | 75,000 | ||
Selling expenses | 558,000 | ||
Salaries and wages expense (administrative) | 312,000 | ||
Rent expense | 104,000 | ||
Utilities expense | 42,000 | ||
Administrative expenses | 458,000 | ||
Increase in value of company reputation | 75,000 | ||
Unrealized gain on value of patents | 35,000 | ||
Interest expense | 154,000 | ||
Income tax expense | 81,000 |
Bramble has 100,000 common shares outstanding throughout the year.
(a)
make a multiple-step income statement for Bramble Corporation, showing expenses by function. Include calculation of EPS. (Round per share answer to 2 decimal places, e.g. 52.75.)
Bramble Corporation Income Statement choose the accounting period December 31, 2023For the Month Ended December 31, 2023For the Year Ended December 31, 2023 | ||||
---|---|---|---|---|
enter an income statement item | $enter a dollar amount | |||
enter an income statement item | enter a dollar amount | |||
select a summarizing line for the first part Earnings per ShareGross Profit / (Loss)Income before Income TaxIncome from OperationsNet Income / (Loss)Operating ExpensesOther Expenses and LossesOther Revenues and Gains | enter a total amount for the first part | |||
select an opening name for section one Earnings per ShareGross Profit / (Loss)Income before Income TaxIncome from OperationsNet Income / (Loss)Operating ExpensesOther Expenses and LossesOther Revenues and Gains | ||||
enter an income statement item | $enter a dollar amount | |||
enter an income statement item | enter a dollar amount | |||
enter a subtotal of the two previous amounts | ||||
select a summarizing line for the second part Earnings per ShareGross Profit / (Loss)Income before Income TaxIncome from OperationsNet Income / (Loss)Operating ExpensesOther Expenses and LossesOther Revenues and Gains | enter a total amount for the second part | |||
elect an opening name for section two Earnings per ShareGross Profit / (Loss)Income before Income TaxIncome from OperationsNet Income / (Loss)Operating ExpensesOther Expenses and LossesOther Revenues and Gains | ||||
enter an income statement item | enter a dollar amount | |||
enter a total of the two previous amounts | ||||
select an opening name for section three Earnings per ShareGross Profit / (Loss)Income before Income TaxIncome from OperationsNet Income / (Loss)Operating ExpensesOther Expenses and LossesOther Revenues and Gains | ||||
enter an income statement item | enter a dollar amount | |||
select a summarizing line for the third part Earnings per ShareGross Profit / (Loss)Income before Income TaxIncome from OperationsNet Income / (Loss)Operating ExpensesOther Expenses and LossesOther Revenues and Gains | enter a total amount for all three parts | |||
enter an income statement item | enter a dollar amount | |||
select a closing name for this statement Earnings per ShareGross Profit / (Loss)Income before Income TaxIncome from OperationsNet Income / (Loss)Operating ExpensesOther Expenses and LossesOther Revenues and Gains | $enter a total net income or loss amount | |||
select an income statement item Earnings per ShareGross Profit / (Loss)Income before Income TaxIncome from OperationsNet Income / (Loss)Operating ExpensesOther Expenses and LossesOther Revenues and Gains | $enter a dollar amount rounded to 2 decimal places |
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.