Question
Brief Exercise 4-2 Splish Corporation had net sales of $2,407,700and interest revenue of $40,700during 2017. Expenses for 2017 were cost of goods sold $1,462,900, administrative
Brief Exercise 4-2
Splish Corporation had net sales of $2,407,700and interest revenue of $40,700during 2017. Expenses for 2017 were cost of goods sold $1,462,900, administrative expenses $220,600, selling expenses $299,400, and interest expense $54,000. Splishs tax rate is30%. The corporation had105,200shares of common stock authorized and74,260shares issued and outstanding during 2017. Prepare a single-step income statement for the year ended December 31, 2017.(Round earnings per share to 2 decimal places, e.g. 1.48.)
SPLISH CORPORATION
Income Statement
December 31, 2017
For the Year Ended December 31, 2017
For the Quarter Ended December 31, 2017
Dividends
Earnings Per Share
Expenses
Net Income / (Loss)
Retained Earnings, January 1
Retained Earnings, December 31
Revenues
Total Expenses
Total Revenues
Net Sales
$
Dividends
Earnings Per Share
Expenses
Net Income / (Loss)
Retained Earnings, January 1
Retained Earnings, December 31
Revenues
Total Expenses
Total Revenues
Net Sales
Dividends
Earnings Per Share
Expenses
Net Income / (Loss)
Retained Earnings, January 1
Retained Earnings, December 31
Revenues
Total Expenses
Total Revenues
Net Sales
Dividends
Earnings Per Share
Expenses
Net Income / (Loss)
Retained Earnings, January 1
Retained Earnings, December 31
Revenues
Total Expenses
Total Revenues
Net Sales
Dividends
Earnings Per Share
Expenses
Net Income / (Loss)
Retained Earnings, January 1
Retained Earnings, December 31
Revenues
Total Expenses
Total Revenues
Net Sales
$
Dividends
Earnings Per Share
Expenses
Net Income / (Loss)
Retained Earnings, January 1
Retained Earnings, December 31
Revenues
Total Expenses
Total Revenues
Net Sales
$
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Advanced Accounting
Authors: Debra C Jeter, Paul K Chaney
5th Edition
1118022297, 978-1118022290
